Smart contracts are programs stored on a blockchain that self-execute when predetermined conditions are met.

The Online Safety Act 2021 (Cth) (Act) came into effect on 23 January 2022. The Act aims to develop the existing regulatory framework and vest the eSafety Commissioner with greater investigative and enforcement powers.

On 15 February 2022, the Victorian State Revenue Office (SRO) published ruling LTA-009 (Draft Ruling) that replaced the previous rulings of LTA-004 and LTA-005.

The consultation process closed for comments and submissions on 15 March 2022. We will provide updates when the SRO releases their final ruling in due course.