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As we approach mid-year, many Australian subsidiaries of multinational corporations and foreign entities registered in Australia should be preparing their modern slavery statements. This article examines the reporting obligations under Australian laws, including the critical issue of revenue consolidation that often catches foreign-owned entities by surprise. The Reporting ObligationAustralia’s Modern Slavery Act 2018 (Cth) (the “Act”) requires entities to submit annual modern slavery statements if they meet the revenue threshold. The statement must be lodged within 6 months after the end of the reporting entity’s financial year. Who Must Report?The Act captures:• Australian entities with annual consolidated revenue of at least $100 million• Foreign entities carrying on business in Australia (e.g. Australian branch of overseas companies) with annual consolidated revenue of at least $100 millionThe legislation uses consolidated revenue worked out in accordance with the Australian accounting standards, meaning it may be necessary to look beyond the single legal entity and to the wider corporate group. The $100 Million Threshold: Consolidated RevenueThe $100 million threshold is based on consolidated revenue, not the Australian subsidiary’s standalone revenue. This is an often overlooked point when businesses determine whether they are under reporting obligations.This means multinational corporations with Australian operations and/or subsidiaries will need to take particular care and potentially apply the threshold test at both the parent entity level and the subsidiary level. By way of example:• a foreign company with an Australian subsidiary with local revenue of only $30 million may still have reporting obligations if it also carries on business in Australia apart from the subsidiary (e.g. through an Australian branch or otherwise) and has global revenue of $80 million (in addition to the Australian subsidiary’s revenue);• an Australian subsidiary with local revenue of only $30 million may still have reporting obligations if it controls other downstream foreign entities with overseas-sourced revenue of $80 million.This catches many Australian entities and branches off-guard, particularly those of Asia-Pacific, European, and North American parent companies operating substantial global operations. Mandatory Content RequirementsEach statement must address seven mandatory criteria:1. Identity of the reporting entity;2. Structure, operations and supply chains;3. Modern slavery risks in operations and supply chains;4. Actions taken to assess and address those risks, including due diligence and remediation processes;5. Effectiveness of actions taken;6. Consultation process with owned or controlled entities; and7. Any other relevant information. The Public RegisterAll statements are published on a public, searchable register maintained by the Attorney-General’s Department (https://modernslaveryregister.gov.au/). This creates reputational risk for non-compliance or inadequate disclosure.Further, where an entity fails to comply with its reporting obligations, the Minister has powers under the Act to request an explanation and remedial action. If the entity does not comply with this request, the Minister may publish the entity’s name and details on the public register, which may result in reputational damage. Enforcement Landscape: Penalties Are ComingThe current absence of penalties has created a false sense of security. This is about to change. The McMillan ReviewIn May 2023, Professor John McMillan AO completed a comprehensive statutory review of the Act’s first three years. His findings were stark: the Act had “not yet caused meaningful change for people living in conditions of modern slavery” and modern slavery statement reporting was 'frequently deficient'.The review made 30 recommendations to strengthen the Act, with civil penalties as a central reform. The review recommended penalties for:• Failing to submit a modern slavery statement;• Knowingly providing false or misleading information in statements;• Non-compliance with Ministerial requests for remedial action.While specific penalty amounts were not recommended, the review referenced comparable regimes with penalties ranging from CAD $250,000 (Canada) to AUD $1.1 million (former NSW regime).The review also recommended lowering the reporting threshold from $100 million to $50 million in annual consolidated revenue, which would extend reporting obligations to a significantly wider group of entities. The Government has not adopted this recommendation at this stage, but entities with consolidated revenue approaching $100 million should monitor developments closely. Government ResponseIn December 2024, the Australian Government published its response. Importantly, the Government “agrees in principle” to introduce civil penalties for non-compliance, with stakeholder consultation to follow on the penalty framework design.Additionally, Chris Evans commenced as Australia’s first Anti-Slavery Commissioner on 2 December 2024, with a mandate to increase compliance, support businesses, and prepare updated guidance for reporting entities. The Commissioner is expected to have powers to publish lists of non-compliant entities and declare high-risk industries, regions and products.Although no implementation timeline has been announced, the direction of reform is clear – civil penalties are expected to be introduced, the Anti-Slavery Commissioner is now operational and may publish lists of non-compliant entities, and entities that have never reported despite meeting the threshold face potential exposure across multiple reporting periods, alongside potential “bluewashing” claims under section 18 of the Australian Consumer Law.Entities that continue to ignore their obligations risk creating permanent public records of non-compliance and exposure to penalties that may apply once the penalty regime commences. Practical Steps for ComplianceAustralian subsidiaries and branches of multinational corporations should:1. Assess the obligation immediately: determine whether consolidated revenue exceeds $100 million;2. Identify the reporting entity: determine whether the Australian subsidiary or parent company will report;3. Consider joint statements: a parent and one or more of its Australian subsidiaries may submit a joint statement provided that the consultation requirements under the Act are met;4. Map supply chains: identify modern slavery risks in operations and procurement;5. Document due diligence processes: collate evidence of risk assessment and remediation; and6. Prepare for disclosure: ensure statements can withstand public and regulatory scrutiny once published on the register. Assistance with ComplianceModern slavery reporting is not a box-ticking exercise. Statements become permanent public records, and with the reforms described above now imminent, inadequate disclosure carries reputational, regulatory, contractual and consumer law risks. Reporting entities – particularly those navigating revenue consolidation, supply chain risk, or cross-border group structures – should consider obtaining professional advice before lodging.H & H Lawyers has assisted many multinational corporations and their Australian subsidiaries and foreign branches with modern slavery compliance, including:• Revenue threshold assessments and obligation determination;• Statement preparation, review and lodgement;• Supply chain risk assessments across multiple jurisdictions;• Due diligence, process design and various internal documentation;• Coordination with overseas parent companies and group entities, supported by our bilingual capabilities; and• Remediation of past non-compliance.For many multinational corporations, their Australian subsidiary’s reporting obligation only becomes apparent when consolidated revenue is properly analysed. We encourage all subsidiaries and branches of multinational corporations to assess their position and achieve compliance before the penalty regime commences. The cost of doing so may well be modest compared with the reputational damage, penalty exposure and operational disruption of non-compliance. For assistance with modern slavery reporting obligations, please contact us. Disclaimer: This article is for general information purposes only and does not constitute legal advice. The information is current as at May 2026 but laws and regulations are subject to change. Modern slavery reporting obligations depend on your specific circumstances. You should seek professional legal advice before taking any action based on this article. Liability limited by a scheme approved under the Professional Standards Legislation.
29 May 2026
事务所动向
Representing H & H Lawyers, John Kim, Tin-Lok Shea and James Jung attended the Inter-Pacific Bar Association (IPBA) Conference in New Delhi. The Pullman in New Delhi’s Aerocity provided the perfect backdrop to engage in discussions about “The Future of Law: Agility, Creativity & Change” – exploring how artificial intelligence, shifting geopolitical dynamics, and evolving cross-border investment regimes are reshaping legal practice. James was officially appointed as IPBA President-Elect ahead of the 2027 IPBA Conference in Sydney. Together with Tin-Lok, Jurisdictional Council Member for Australia, he quickly got to work promoting the event for next year, which is already shaping up to be a wonderful showcase for the Australian legal profession. “We’re delighted to bring the IPBA annual conference back to Sydney after 21 years and look forward to welcoming friends and colleagues from across the world for a dynamic and inspiring event,” commented James. Tin-Lok presented at the Tax Committee panel “Recent Structures and Trends to Pass Anti-avoidance Tests” covering significant ground on topics including tax residency certificates, permanent establishments, and recent case law such as the PepsiCo High Court case which considered for the first time the application of the Diverted Profits Tax. “It was particularly interesting to learn of the various ways in which anti-avoidance rules have developed across different countries – whilst reflective of distinct jurisdictional characteristics, there were many commonalities, demonstrating that this area of taxation remains ever-evolving and complex," observed Tin-Lok. In addition to the panel sessions, delegates enjoyed a formal gala dinner with traditional Indian performances, and a raucous farewell dinner where they busted out their Bollywood dancing moves. No trip to India would be complete without a journey to one of the wonders of the world and UNESCO World Heritage site, the Taj Mahal. Cue an eight-hour round trip with eight lawyers goofing around whilst learning of this awe-inspiring structure’s significance as a monument of love built by Emperor Shah Jahan in memory of his beloved wife, Mumtaz Mahal. Whilst the IPBA is fertile ground for serious business discussions and networking, this side-trip was a testament to the beauty of the IPBA in fostering genuine and enduring friendships
09 Mar 2026
事务所动向
Australia remains a premier destination for international investors seeking to diversify their global portfolios. This resilience is underpinned by a stable fiscal environment, an expanding domestic market, and a demonstrated capacity to adapt to shifting global economic tailwinds.Post-pandemic, the Australian economy has exhibited a robust recovery, driven by an open and flexible market structure. Looking ahead, the trajectory remains positive, with projected growth in consumption, investment, and exports, alongside a strengthening labour market.However, the complexity of the Australian regulatory landscape necessitates a systematic approach. Successful market entry and ongoing operations require precise execution across several critical pillars:- Corporate Governance: Selection of optimal business and investment structures.- Employment & Industrial Relations: Navigating complex labour management and human resources frameworks.- Taxation & Compliance: Ensuring adherence to evolving fiscal policies and regulatory requirements.To support our clients in managing these complexities, H & H Lawyers has released the Doing Business in Australia Guidebook (FY25–26). Updated with the latest legislative developments and real-world practice insights, this guide serves as a strategic resource for both new entrants and established operators.We invite you to utilise this guide as a foundational reference.
23 Feb 2026
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We’re proud to share some exciting news - H&H Lawyers is now a sponsor of Mate Football Club! Our team has always been passionate about supporting the Japanese community here in Australia, and this partnership with Mate FC is another step in building stronger ties both on and off the field. We can’t wait to cheer for Mate FC this season and continue working together with the Japanese community to create lasting connections.
09 Sep 2025
事务所动向
A group of delegates from our firm, namely, James Jung, Tin-Lok Shea, John Kim, and MARTIN POLAINE, FCIArb FAIADR, recently attended the Inter-Pacific Bar Association (IPBA) Annual Conference in Chicago. The IPBA community has always been a collegiate and engaged group, and this year was no exception – the conference was a great opportunity to reconnect with familiar faces, exchange ideas, and build new connections across jurisdictions. The energy of the host city was on full display, from incisive keynote speeches and thoughtful panel discussions to a standout welcome reception at Wrigley Field, where the Cubs edged out the Dodgers (much to the disappointment of many Shohei Ohtani fans in attendance). We are proud to share that James Jung was announced as the Vice-President of the IPBA, with the 2027 conference planned to be hosted in Sydney (where he will officially become President). This is an enormous achievement culminating from years of dedication and contribution to the IPBA, and reflects James’ esteemed position within the IPBA community built upon the deep professional ties and friendships he has cultivated with colleagues from across the Asia-Pacific region. Tin-Lok Shea was also appointed as the IPBA Jurisdictional Council Member (JCM) for Australia, a senior leadership position representing the IPBA within the allocated jurisdiction. This is well deserved by Tin-Lok and his nomination was hugely supported by the IPBA Officers at the recent Council Meeting in Chicago. A huge congratulation to both James and Tin-Lok, who are looking forward to contributing to the IPBA’s mission of supporting legal development and collaboration of lawyers across the Asia-Pacific.
05 May 2025
事务所动向
H & H Lawyers recently co-hosted a seminar on Gold Coast, to speak about the laws surrounding cross-border inheritance between Australia and Japan. In collaboration with Japanese law firm Kensei Law Office, tax agents Yamada & Partners, and accountants Yoko Briese Accounting & Business Services, our team members Tin-Lok Shea and Daisuke Ueda explored the unique complexities that arise when family members or assets are spread across both countries. The seminar was an engaging and productive session, thanks to the contributions of our collaborators and attendees. We hope the session provided valuable insights for those with assets in both Australia and Japan, helping them understand how such cross-border issues may affect them. Inheritance is often not considered until it becomes necessary—this can make dealing with legal matters suddenly overwhelming and stressful, especially when navigating two different legal systems. Preparation and estate planning are essential to help avoid unnecessary stress and costs for loved ones. If you require guidance on any aspect of inheritance or estate planning, we encourage you to get in touch with us.
09 Apr 2025