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Modern Slavery Reporting Requirements For Australian Subsidiaries and Foreign Entities in Australia

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 Obligation Australia’s Modern Slavery Act 2018 (Cth) (the “Act”) requires entities to submit annual modern slavery statements if they meet the revenue threshold.