GST Point-in-Time Service Updates
Tuesday 12 November 2024 @ 9.55 a.m.
The GST Service has been updated to include the Treasury Laws Amendment (Professional Standards Schemes No. 3) Regulations 2024 (Cth).
Treasury Laws Amendment (Professional Standards Schemes No. 3) Regulations 2024
The purpose of these Regulations is to prescribe a professional standards scheme to
remake the former Law Society of New South Wales Professional Standards Scheme which
was first published in 2018 and subsequently extended in 2023.
The earlier iteration of the scheme was only able to remain in force for 6 years pursuant
to section 32 of the Professional Standards Act 1994 (NSW). Minister Anoulack Chanthivong has approved the remaking of a new scheme to
allow members of the Law Society of New South Wales to continue 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 12 November 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.
