Welcome

Easter is late, and Summer has been sticking around!

We are so lucky that Melbourne has been treating us to some sunny summery weather despite the fact Autumn began a month and a half ago. Being able to still spend time outside really is a bonus at this time of year, particularly when the depths of winter do inevitably hit us.

The team is looking forward to a break with family and friends over Easter and we hope that all our clients and readers are also able to enjoy some time away from work.

As always, if you would like to speak further about anything in this newsletter or other ways we can help you and your business, please reach out.

Best Wishes
Andrew, Ash, Roxie, Yee, Dani & Mikayla

Quarter Highlights

Elevating Lives

This quarter, we’re helping protect 3100 children from schistosomiasis.

Unlimit Health works with Ministries of Health and Education in sub-Saharan African countries to support programs controlling and eliminating two types of parasitic worm infections: schistosomiasis and soil-transmitted helminthiasis. The majority of programs treat school-aged children, but can also include at risk adults.

Their annual demonstrated impact includes:

  • Developing a new strategy for sustainable impact and disease elimination, including water and sanitation-focused approaches to reducing disease transmission, which complements extensive treatment programs.
  • Testing an approach to community-driven planning of environmental and behavioural action to reduce the risk of transmission of schistosomiasis.

Elevate Road Trip

At the end of February Andrew, Ash and Roxie travelled to Newcastle, Sydney and Canberra to catch up with some of our inter-state clients. It was a whirlwind trip with only one night away (and driving into Sydney and accidentally taking the tunnel instead of the bridge!) but it was great to connect with clients in person, some for the first time.

Special thanks to Erich, Anna and the team at MGA Thermal for having us in to visit their site in Newcastle (and being flexible with our delayed flight out of Melbourne!), and the clients who came to our drinks in Sydney and lunch in Canberra.

We look to doing further trips in the future.

Legal briefing

Draft legislation – payday superannuation exposure

The Federal Government recently released draft legislation for payday superannuation – the Superannuation Guarantee Charge Amendment Bill 2025 (Cth) – for consultation.

If this Bill is passed and enacted into law, it will amend the Superannuation Guarantee Charge Act 1992 (Cth) and will require superannuation to be paid to employees on payday instead of quarterly in arrears. It would also impose a late payment penalty where a superannuation guarantee charge remains unpaid after a specified period of time.

If enacted, from 1 July 2026, all employers will be required to pay their employees’ superannuation contributions at the same time they pay them their salary and wages.

Employers will need to factor this payment into their business cashflow and payment processes. We will keep you updated on the progress of this legislation.

Potential ban on non-compete clauses

As part of the Federal Budget for 2025/26, the Government announced that it will introduce a statutory ban on ‘non-compete’ clauses in employment contracts for certain staff. If enacted, non-compete clauses would be banned from 2027 for staff earning less than the high-income threshold in the Fair Work Act 2009 (Cth) which is currently $175,000.

The proposed reforms are intended to allow low and middle income workers to change jobs and boost their wages more easily. The changes are proposed to be made through amendments to the Competition and Consumer Act 2010 (Cth), which currently exempts employment agreements from the operation of the competition law regime. There may also be consequential amendments to the Fair Work Act 2009 (Cth) required. Before the ban on non-competes is converted into a Bill to be considered by Parliament, it needs to go through a consultation process.

Currently there is no action required by employers (and depending on the results of the Federal election in May 2025, nothing may change), however it is important that employers ensure that any restraints in employment contracts are reasonable, otherwise they will likely be unenforceable.

We will provide further information on these changes if and when they progress.

New rules for mandatory ransomware payment reporting

In our last newsletter we reported that Australia had enacted its first cyber security legislation. Following on from that, the Government has now registered the Cyber Security (Ransomware Payment Reporting) Rules 2025 (Cth) (CSRPR Rules). The CSPRP Rules set out the requirements in relation to the mandatory ransomware payment reporting obligation which is in Part 3 of the Cyber Security Act 2024 (Cth).

The CSPRP Rules set out:

  • the annual turnover threshold for a business which will result in the entity being captured by the mandatory ransomware reporting obligations; and
  • the information that must be included in a ransomware report.

An entity will be a reporting entity for the purposes of ransomware if it is either:

  • a responsible entity for a critical infrastructure asset; or
  • it carries on a business in Australia with an annual turnover for the previous financial year that exceeds $3 million and is not a Commonwealth or State Government body.

An entity that is a reporting entity must make a report to the Australian Signals Directorate and the Department of Home Affairs within 72 hours after making the ransomware payment or of becoming aware of the payment being made.

The mandatory reporting rules for ransomware payments will come into effect no later than 30 May 2025.

Businesses need to be aware of these reporting obligations, and the action they need to take if they make a ransomware payment and are captured by the CSRPR Rules.

Recent developments in foreign investment (FIRB) regulation

The Australian Government has recently made changes to the foreign investment policies which were released on 14 March 2025. The main takeaways from these changes include the following:

  • Foreign persons are banned from buying established dwellings for two years from 1 April 2025 to 31 March 2027, with limited exceptions relating to certain redevelopments, commercial scale developments and built-to-rent projects.
  • Published policy on fee refunds and fee credits where a bidder is unsuccessful in a competitive bid process (likely in an acquisition). It is important to note however that there are criteria that must be met for the refunds / credits and decisions will still be made on a case-by-case basis. Bidders will be able to choose between a 75% refund or 100% credit for a subsequent FIRB application.
  • Further details regarding this concessional FIRB fee treatment for built-to-rent projects.
  • An updated tax conditions guidance note has been released which reflects the Government’s increasing scrutiny on tax arrangements, largely focussing on the impact of tax risks in foreign investment proposals on Australian tax revenues as a key consideration to the national interest.

The upcoming Federal election will also have an impact on foreign investment and FIRB, including:

  • the current Government being in “caretaker mode” which will impact some FIRB applications including deferral of decisions on sensitive applications; and
  • the Opposition has announced that, if elected, they will design a “white list” process for trusted investors from the United States, Canada, the United Kingdom, New Zealand, India and Japan.

We will keep you updated with any further changes to the FIRB regime.

Diversions

A selection of things taking up time outside work:

  • I have found myself very busy this quarter (work, family babies and weddings, travel and sickness) so do not have any book recommendations for this newsletter. I have promised myself I will for the next one, and now that is in writing I have to be accountable! In lieu of the usual book recommendations, here are some podcasts I have been enjoying:
  • Stalked, BBC Podcasts. This podcast recounts the ordeal that Hanna Mossman Moore, a young woman from the UK, endured when she was stalked, and her life was bombarded with fake accounts and her personal information and data was used against her. Hannah and her ex step-mother (Carole, a UK journalist) investigate how Hannah’s life was turned upside down by someone she thought was a friend, and how the internet and being online impacts someone who is being stalked. (Roxie)
  • The Reserve Drivers. This is one of my favourite comedy podcasts! If you have any interest in Formula One, this is for you (I even think if you don’t have any interest, it could still be for you). Two comedians dissect the news of F1 in their own entertaining way and it always makes me laugh. (Roxie)
  • Sentimental Garbage. Another one of my favourite podcasts where author Caroline O’Donoghue and a guest discuss “the culture we love that society sometimes makes us feel ashamed of”. Caroline and her guests talk about movies, books, theatre, pop music and anything else that takes their fancy (including recently, theme parks). I have not been listening to this podcast since its inception, so in its current hiatus, I have been listening to old episodes. One of my favourites has been the two-part series on Gilmore Girls with musician Jof Owen, where Caroline and Jof discuss the show based on their ranking of the male characters. Genius. (Roxie)
  • The Cult of We: WeWork and the Great Startup Delusion, by Eliot Brown and Maureen Farrell. This book is now 4 years old (I picked it up at Book Grocer, my favorite cheap book store) so the implosion of WeWork is not new news; but it’s a great read all the same. It charts the rise and fall of WeWork and its founder, Adam Neumann. It’s got plenty of startup cliches, some fascinating insights and an unhealthy dose of hubris. File alongside most of Michael Lewis’s books, notably Going Infinite: The Rise and Fall of a New Tycoon. (Andrew)
  • The Mother’s Promise, by Sally Hepworth. This novel is an emotional yet uplifting story about a single mother, Alice, and her anxious teenage daughter, Zoe. When Alice is diagnosed with a serious illness, she has to rely on two unexpected allies—a nurse and a social worker—who become deeply involved in their lives. This is an easy read that keeps you invested without feeling too heavy. (Yee)
  • Klara and the Sun, by Kazuo Ishiguro. Set in a subtly dystopian future, this book explores the meaning of love, loneliness, belonging and how people interact, through the eyes of a quiet, attentive observer. It raises questions about what it is to be human and whether we’re as unique and complex as we think. It’s a strange, slightly unsettling and thought-provoking reflection on how we relate to and value one another. The simple plot and accessible style make this a quick easy and enjoyable read, but it’ll make you stop to think. (Ash)
  • ER (1994) and The Pitt (2024). We’re watching The Pitt – when we aren’t busy being cultured and sophisticated – which is clearly a modern re-make (and plot recycle) of ER (remember ER!?). Episodes are released weekly but we’re no longer used to waiting for content, so we started re-watching ER The Pitt features Noah Wyle – in ER, he was medical student and intern Dr Carter but now, 20 years on, he’s Dr Robinavitch – head of the emergency department. There’s nothing groundbreaking here, but both are easy, entertaining and binge-able if you’re sick, exhausted and stuck at home because your toddler continuously brings home daycare germs and you lack the mental strength for complexity. Seeing baby-faced versions of actors in ER – George Clooney, Julianna Margulies, and many more – is a bonus. Just don’t watch with someone who has professional health or hospital experience (unless you like hearing “that’s rubbish” and “that makes no sense”), or think too hard about it, because it’s true. (Ash)
  • Just One Thing, by Dr Michael Moseley. “Just One Thing” refers to a concept popularized by Dr. Michael Mosley, where introducing one small, simple change into your daily routine can have a significant positive impact on your health and well-being. This idea is explored in his BBC program and podcast, “Just One Thing”, as well as in his book of the same name. Anyone who was familiar with his work, Michael was an engaging contributor to science journalism and died last year whilst on holidaying in Greece. On that merit alone, this book is worth the read. (Dani)
  • Figma, a design platform. Outside of work, I’ve been too busy to pick up more than one book. In the process of developing my own app, I’ve become well versed with this design meets workflow platform. I’ve been working with developers who are about to turn my prototype into code! Exciting. (Dani)
  • Expanding my music. I haven’t had much time to sit and watch a tv show or read a book with university and work in full swing. But I have been keeping the balance by going to a variety of music events this quarter! I have been to the Billie Eilish concert, a weekend music festival, multiple DJ events and many friends’ birthdays with different DJ’s. I’m finding lots of new music that I enjoy. My current favourite music artist is the band Parcels originated in Byron Bay in 2014 and plays electropop music. I think they have a unique sound, with my favourite song of theirs being ‘Comingback’. If you’re looking for a new band to check out and give them a listen! (Mikki)