GST Point-in-Time Service Updates

The GST Service has been updated to include the Treasury Laws Amendment (Professional Standards Schemes No. 2) Regulations 2024 (Cth).

Treasury Laws Amendment (Professional Standards Schemes No. 2) Regulations 2024

The Regulations amend the Competition and Consumer Regulations 2010 to prescribe a professional standards scheme titled the Bar Association of Queensland Professional Standards Scheme. The earlier iteration of the scheme was only able to remain in force for 5 years pursuant to section 33(1) of the Professional Standards Act 2004 (QLD). The relevant Minister needs to approve the remaking of a new scheme to allow members of a professional group to retain a cap on civil liability in relation to misleading and deceptive conduct. There are no significant differences between this remade scheme and the earlier iteration of the scheme which was previously prescribed.

These amendments have been updated in the Point-in-Time GST Service current to 25 August 2024. (NB: subscription required).

If you are not already a subscriber to this or other Point-in-Time Services then please contact us to find out more or to take a free trial.