Understanding The Closing Loopholes Acts

The Closing Loopholes Acts

The Closing Loopholes Act 2023 and Closing Loopholes No. 2 Act 2024 are changing the laws affecting Australian workplaces and creating a heightened era of compliance.

The Closing Loopholes Bill was tabled in the House of Representatives in September 2023, proposing reforms that would have a substantial impact on employers, employees, directors, and contractors.

On 7 December 2023, the Federal Government announced a deal with the cross bench to split the bill into two parts. Part 1 of the bill, including components related to wage theft and labour hire workers, passed both Houses that same day, and received Royal Assent on 14 December 2023. The remaining components of the Bill received Royal Assent on 27 February 2024.

Navigating a complex industrial relations landscape

In practice, these changes impose intricate compliance obligations on employers, resulting in substantial time and financial costs.

Evolving legislation is putting the onus on employers to do their compliance due diligence, yet the challenges surrounding industrial relations have become increasingly complex.

The guide to understanding the Closing Loopholes Acts

In our "Understanding the Closing Loopholes Acts" whitepaper, Yellow Canary explores:

• Detail on the Closing Loopholes Act 2023 and the Closing Loopholes No. 2 Act 2024
• Implications of the changes
• Solutions for compliance in this evolving regulatory landscape
• Steps to future-proof your compliance framework

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