Client Alert

The extended Modern Slavery reporting deadline is now looming

Katherine Shamai
By:
Katherine Shamai
02 Mar 20211 min read
As initially outlined in 2018, the Australian Government passed the Commonwealth Modern Slavery Act 2018 (the Act), which entered into force on 1 January 2019.
Contents

Australian entities were due to submit their report by 31 December 2020. However, in response to COVID, the Federal Government extended the reporting deadline to 31 March 2021 for businesses with the reporting period of 1 June 2019 to 30 July 2020.

Who does this apply to?

Reporting is mandatory for businesses (including foreign entities carrying on business in Australia) with a consolidated annual revenue of $100m, and requires lodgement of an annual Modern Slavery Statement with the Australian Border Force Modern Slavery Registry, which are then made publicly available. Other businesses can report voluntarily.

Due to the public nature of the Australian Border Force Modern Slavery Registry, care needs to be taken to ensure submitted statements are an accurate reflection of the company's activities and values. Failure to comply, or give effect to the intent of the legislation, may result in reputational damage to your brand.

If your business meets the above criteria, or you’d like to submit a voluntary report, contact us now to ensure you’re prepared to lodge your submission.

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Authors
  • Katherine Shamai
    Katherine Shamai Katherine has over 17 years of professional experience in providing governance, compliance, internal audit, and risk management services to a range of clients including federal, state and local government agencies and departments, not-for-profits, ASX listed companies, and private companies. View Profile

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