The 2025 federal election will be held on 3 May.
As the 47th Parliament will not sit again, the Bills currently before Parliament have lapsed and will not proceed unless reintroduced in the next Parliament.
These include the Treasury Laws Amendment (Miscellaneous Measures) Bill 2024 containing the proposed exemptions for foreign financial service providers (FFSPs) from the requirement to hold an Australian financial services licence. Background.
The Government delivered its Budget 2025-26 before calling the election but many of the announced changes (including changes to income tax) are subject to the Government’s re-election.
Announced changes include a ban on non‑compete clauses which will apply to workers earning less than the high‑income threshold in the Fair Work Act (currently $175,000) and the use of ‘no‑poach’ agreements to block staff from being hired by competitors.
The Government will also consult on non‑solicitation clauses for clients and co‑workers, and non‑compete clauses for high‑income workers.
Previous Bills announced but not introduced include:
- Payments System Modernisation (Regulation of Payment Service Providers)
- Bankruptcy law reform
- Amendments to the Personal Property Securities Act 2009 (Cth)
- Ban on debit card surcharges
- AI regulation
- Crypto asset regulation
- The next stage of the Government’s financial advice reforms.
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Author: David Jacobson
Principal, Bright Corporate Law
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About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.
