This article from the experts at LexisNexis® Practical Guidance, covers the most significant legal reforms in 2024 and further changes in 2025 that we’re watching closely. This year’s developments have set the stage for further advancements in 2025, offering both challenges and opportunities for the legal profession.
2024: a Year of Transformation
2024 has been a year of significant legislative and regulatory changes that promise to have a wide-ranging and long-lasting impact on the legal profession. We’ve seen reforms aimed at simplifying family law, enhancing privacy protections, and overhauling aged care services to improve delivery and assessment frameworks. Additionally, mandatory climate reporting is being introduced to ensure transparency and accountability, while AI integration in legal practice is set to enhance efficiency and uphold justice, showcasing a forward-thinking approach to technological advancements.
-
Family law reforms
In May, the Family Law Amendment Act 2024 (Cth) introduced substantial changes, particularly in parenting, with a focus on simplifying the family law system and prioritising children's best interests. The reforms included new simplified objects to Part VII of the Family Law Act 1975 (Cth), a revised list of best interests considerations, and the repeal of the presumption of equal joint parental responsibility. Additionally, there were changes to enhance inclusivity for First Nations families. The Western Australian Parliament also aligned its Family Court Act 1997 (WA) with these reforms in December, ensuring consistency across jurisdictions. -
Succession law in South Australia
The Succession Act 2023 (SA) will be enacted on 1 January 2025 to modernise and simplify succession laws, consolidating previous legislation into a single Act. This reform aims to make succession laws more accessible and understandable, aligning them with modern practices and other jurisdictions. Key changes include the right to inspect a deceased person's will, amendments to inheritance claims, and updates to family provision claims and estate administration. -
AML/CTF regime
Reforms to the Anti-Money Laundering and Counter-Terrorism Financing regime were enacted, extending obligations to professional service providers, including lawyers. These entities will be required to conduct customer due diligence and report to AUSTRAC, aligning Australia with international standards and enhancing the integrity of the financial system. -
Consumer credit protection
The Treasury Laws Amendment (Responsible Buy Now Pay Later and Other Measures) Bill 2024 brings BNPL schemes under the National Consumer Credit Protection Act 2009 (Cth). This reform aims to protect consumers from financial harm while balancing the benefits of innovation and competition in the financial sector. Changes will start on the earlier of proclamation or 11 May 2025. -
Merger control reforms
The merger control regime will transition to a mandatory system with a new "substantial lessening of competition" test under the Treasury Laws Amendment (Mergers and Acquisitions Reform) Bill 2024. This change introduces formal requirements and timelines for merger parties, increasing administrative steps and costs but ensuring a more robust competition framework. The new regime starts on 1 January 2026, though merger parties can start using the new system voluntarily from 1 July 2025. -
Climate Reporting
Mandatory climate reporting legislation was passed, requiring phased disclosures from “in-scope” entities, with Groups 1, 2 and 3 entities reporting for financial years commencing on or after 1 July 2025, 1 July 2026 and 1 July 2027, respectively. This legislation mandates that entities disclose their climate-related plans, financial risks, and opportunities, promoting transparency and accountability in addressing climate change. -
Foreign Bribery Offence
A new corporate offence of failing to prevent bribery of a foreign public official was introduced, with statutory guidance published on the availability of a defence where adequate procedures to prevent foreign bribery are in place. The reforms also broadened the scope of the existing foreign bribery offence and emphasised the importance of having robust anti-bribery controls in place. -
Residential Tenancy Reforms
National reforms are being rolled out across Australia to strengthen renters' rights, with changes across multiple jurisdictions. These reforms include preventing rent bidding, prescribing rental application forms, and ensuring minimum dwelling standards, aiming to create a fairer rental market.20 -
Privacy Reforms
The Privacy and Other Legislation Amendment Act 2024 progressed, setting the stage for further privacy law reforms. These changes are designed to enhance data protection and privacy rights, ensuring compliance with evolving technological and societal needs.
2025: Top 10 Legal Industry Developments Expected
The pace of change is expected to stay high, and we’re watching these changes in particular.
-
Continued family law reforms
The Family Law Amendment Act 2024 (Cth) will introduce a second tranche of changes, this time affecting property settlements and family violence definitions. These reforms aim to address economic or financial abuse and improve the legal framework for property settlements, ensuring fairer outcomes for families. The changes will commence in June 2025. -
Aged Care Act implementation
The Aged Care Bill 2024 was introduced to overhaul aged care services, aiming to improve service delivery and establish new regulatory frameworks. The new Act will replace existing aged care laws, creating a single entry point with clear eligibility requirements and a culturally safe assessment framework. The new Aged Care Act is expected to commence on 1 July 2025, aligning with the Support at Home program. This implementation will facilitate a smooth transition to an improved aged care system, enhancing service delivery and regulatory oversight. -
Property law changes in Queensland
The Property Law Act 2023 (Qld) will bring significant changes, including mandatory writing and signing requirements for guarantees and indemnities, a new seller disclosure regime and new lessor consent processes. These changes aim to modernise and streamline Queensland’s property law, and introduce some protections for parties involved in property transactions. -
Employment law
The introduction of a federal offence of 'wage theft' and changes to casual conversion processes are expected. These reforms seek to protect workers' rights and ensure fair employment practices, addressing issues such as wage theft and casual employment. -
Dispute resolution
On 1 January 2025, a new time-based costs regimes commenced operation in Victoria, improving efficiency in the way legal costs are recovered in legal proceedings in superior courts. On 3 February 2025, new rules to regulate the use of AI in proceedings in New South Wales will come into effect, allowing the courts to adapt to technological advancements in legal practice while preserving the integrity of the judicial system. -
Consumer law reforms
Potential reforms include a ban on unfair trading practices and amendments to the Australian Consumer Law to protect consumers and businesses using AI-enabled goods and services. These changes aim to safeguard consumers from deceptive practices and ensure the law remains relevant in the digital age. -
Franchising Code of Conduct
A new Code will apply to franchise agreements from 1 April 2025, with some requirements effective from 1 November 2025. This reform seeks to enhance transparency and fairness in franchising, providing clear guidelines for franchise agreements. -
ASX Corporate Governance Principles
The anticipated 5th edition of the ASX Corporate Governance Principles is expected to take effect for financial years starting on or after 1 July 2025. These principles aim to promote best practices in corporate governance, ensuring accountability and transparency for ASX-listed entities. -
Senate greenwashing report
A report on greenwashing claims and regulatory options is due on 12 February 2025. This inquiry reflects growing scrutiny over companies' ESG activities, aiming to protect consumers from misleading environmental claims. -
Intellectual property
The WIPO Treaty on Intellectual Property, Genetic Resources, and Associated Traditional Knowledge is expected to be incorporated into Australian law. This treaty aims to protect Indigenous Cultural IP, recognising the importance of preserving traditional knowledge and resources.
As the legal landscape continues to evolve, staying informed and prepared for these changes will be crucial for legal practitioners.
Stay ahead of change
Practical Guidance keeps you informed of legal and regulatory changes so you can mitigate potential risks. Latest legal updates authored by leading Australian experts, case trackers and key calendar dates help you provide quality, accurate advice faster.
Learn more by visiting Practical Guidance.