On 25 February 2016, the Australian Government released the final report of the KPMG led Independent review of the impact of the illegal logging regulations on small business.
The report proposed a package of regulatory and non-regulatory reforms to minimise the costs of complying with the Regulation.
In light of this process and the potential for further changes to the Regulation, the department has decided to extend the initial ‘soft-start’ compliance period until any amendments from the KPMG review have been finalised. This is expected to extend the soft-start period until late 2016 or early 2017.
A further Compliance Advice Notice will be released to advise when the ‘soft-start’ compliance period will end.
20Cube are available to discuss further and assist clients with ensuring they comply with the Regulations.