24 January 2020

Australia’s first modern slavery statements are due this year: are you ready?

This article was written by Daniel Fielding and Daisy Mallett.

Is your first modern slavery statement due in 2020?

If your business is caught by the Modern Slavery Act 2018 (Cth) (the Act), you may have your first modern slavery statement due this year.  Modern slavery statements are due within 6 months of the end of the financial year that commenced after 1 January 2019. This means that, for the majority of Australian businesses, your first modern slavery statements will be due no later than 30 September or 31 December 2020.

Recap of Modern Slavery Act reporting obligations

Who: Entities that have an annual consolidated revenue of at least AU$100 million and are either an Australian entity or a foreign entity carrying on business in Australia.

When: Businesses will have different reporting due dates depending on whether they operate under a calendar year, the Australian financial year, or a foreign financial year. The due dates for each financial year are outlined in the table below.

Entity’s annual reporting period
First reporting period under the Act   Due date for Statement
Foreign Financial Year i.e. UK
(1 April – 31 March)
 1 April 2019 – 31 March 2020
 No later than 30 September 2020
Australian Financial Year
(1 July – 30 June)
 1 July 2019 – 30 June 2020
 No later than 31 December 2020
Calendar Year
(1 January – 31 December)
 1 January 2020 – 31 December 2020
 No later than 30 June 2021

What: Modern slavery statements must include the following elements:

  • identify the reporting entity;
  • describe the structure, operations and supply chains of the reporting entity;
  • describe risks of modern slavery to the entity and entities which the reporting entity owns or controls;
  • describe actions taken to assess and address risks;
  • describe how the effectiveness of the actions taken to address risks are assessed; and
  • describe the process of consultation with entities the reporting entity owns or controls.

If you have your first modern slavery statement due in 2020, you will already be in your first reporting period and so will be expected to have identified risks of modern slavery in your entity, taken action to assess and address those risks and assessed the effectiveness of those actions.

KWM can work with you to:

  • identify modern slavery risks in your supply chains;
  • develop internal anti-slavery policies and frameworks;
  • consider and amend your procurement agreements;
  • develop due diligence, culture and corporate governance guidelines;
  • conduct awareness seminars for boards, executives, legal and procurement teams; and
  • assist with preparing, drafting, or reviewing your modern slavery statements.

Key contacts

Share on LinkedIn Share on Facebook Share on Twitter
    You might also be interested in

    Australian whistleblower protections now apply to disclosers who have ‘reasonable grounds to suspect’ that the information disclosed concerns misconduct, or an improper state of affairs or...

    04 March 2021

    Late on 9 December 2020, the Treasurer announced that the current $0 monetary screening thresholds for FIRB applications will be lifted on 1 January 2021, resulting for the most part in the standard...

    11 December 2020

    The Payment Times Reporting regime will commence on 1 January 2021, with the two Acts implementing the regime (the Payment Times Reporting Act 2020 (the Act) and the Payment Times Reporting ...

    10 November 2020

    Recent political, legal and legislative developments mean that pressure on Australian companies to address climate risk has never been higher.

    09 November 2020

    This site uses cookies to enhance your experience and to help us improve the site. Please see our Privacy Policy for further information. If you continue without changing your settings, we will assume that you are happy to receive these cookies. You can change your cookie settings at any time.

    For more information on which cookies we use then please refer to our Cookie Policy.