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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
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
事务所动向
We are pleased to announce that H & H Lawyers has joined Legus International Network of Law Firms, a premier global network of leading independent law firms.With offices in Sydney and Melbourne and over 30 years of experience, our firm is uniquely positioned to provide comprehensive cross-border legal solutions. Our membership in this elite network significantly enhances our dual-direction capabilities:- Inbound: Serving as a sophisticated bridge for global companies and international law firms navigating the Australian legal and commercial landscape.- Outbound: Providing our Australian and international clients with seamless access to vetted, high-calibre legal counsel as they expand and operate across global markets.James Jung, Special Counsel, commented, "Joining LEGUS reinforces our commitment to providing seamless, end-to-end support for our clients’ global objectives. Whether we are facilitating complex inbound investment into Australia or supporting our clients' outbound international requirements, this partnership ensures access to the same calibre of legal expertise and local insight worldwide that we deliver at home."Through this exclusive network, we now offer immediate access to expert legal practitioners in over 35 countries and throughout the United States. We look forward to collaborating with our new colleagues and continuing to serve as the premier choice for cross-border legal matters in Australia.
11 Feb 2026
事务所动向
In December 2025, we had the privilege of hosting a delegation of senior lawyers fromVietnam Electricity (EVN) and its subsidiaries. The visit provided an important opportunity to discuss the changing landscape of inbound investment into Australia, particularly as ESG frameworks increasingly shape global capital decisions.Our James Jung, Dr Paul Govind and Kenneth Hong led focused discussions on the legal and regulatory requirements for international entrants in Australia's "Net Zero" era. While energy remains central to the Australia–Vietnam relationship, our dialogue expanded to the practical realities of operating in a market driven by mandatory climate disclosures and ambitious decarbonisation policy.Key themes included:- ESG as a Gateway: How Australia's emerging ESG and climate-reporting regime is influencing opportunities for international state-owned enterprises.- Japan & Korea Insights: Lessons from the transition of Japanese and Korean investors from traditional gas projects toward green hydrogen and large-scale renewables.- Inbound Pathways: The legal frameworks and governance structures required to navigate Australian infrastructure and energy projects.Australia's role in the regional energy transition continues to mature, and we remain committed to supporting organisations like EVN as they pursue strategic opportunities aligned with Australia's high ESG standards.We thank the EVN delegation for a productive exchange and look forward to continuing these important conversations.
24 Dec 2025
研讨会
27 Nov 2025
事务所动向
We are pleased to share highlights from our recent participation at the 32nd Annual Conference of the International Association of Korean Lawyers (IAKL), held at Korea University in Seoul last week. Our lawyers - Ken Hong, John Kim, James Jung, Bella Cho, and Laura Oh - attended this global gathering of legal professionals. Two of our colleagues were invited to speak: Ken Hong on “The Braiding of Legal Education and Legal Professions Across Multiple Jurisdictions”. Bella Cho on “How to Deal with ESG Factors Embedded in Business”. We are especially proud to announce that our Managing Partner, Ken Hong received the Moon In Gu Award at the Gala Dinner. The Moon In Gu Award, named after the late Dr. Moon In Koo, founder of IAKL and past President of the Korea and Seoul Bar Associations, is one of the organisation’s highest honours. It is presented to lawyers who have shown exceptional dedication to advancing the Korean legal community globally, protecting the rights of overseas Koreans, and strengthening international legal cooperation. Ken reflected on this recognition: “Receiving the Moon In Gu Award is a humbling honour. Dr. Moon’s vision of connecting legal communities worldwide continues to inspire, and I am grateful to contribute to that legacy.” Ken’s recognition is both a personal achievement and a testament to H&H LAWYERS’s commitment to global legal excellence. You can read more about the award in Legal Times. The IAKL Conference continues to provide valuable opportunities to share expertise, build international networks, and deliver insights that benefit our clients worldwide.
03 Oct 2025