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The Australian government has released an exposure draft of the Privacy Amendment (Personal Data Protection) Bill 2026, introducing sweeping changes to privacy law including broader definitions of personal information, codified consent standards, and a new 72-hour data breach notification requirement. With reforms touching everything from geolocation data to erasure rights, organisations face a compressed timeline to uplift their privacy frameworks before these provisions become law.

Boards are accustomed to overseeing cyber security and workplace safety as material risks requiring director-level attention. Immigration compliance is now joining that list, driven by expanded enforcement powers, personal liability provisions for officers, and a regulatory shift from complaint-driven oversight to proactive audits.

The paper examines key Australian tax issues bearing on the current Australian M&A market including the proposed reforms to Australia's foreign resident capital gains tax regime, the tax treatment of contingent consideration and earnout arrangements, and the use of capital gains tax roll-overs in recent M&A transactions.