Data accuracy on trade forms
From 1 July 2024 there are new Commonwealth requirements on people trading water.
All information provided by water markets participants in a trade or transfer application form must be comprehensive and accurate. There is also an obligation to keep certain records for 5 years.
The Inspector-General of Water Compliance has put together handy FAQs on these new obligations; you can find these here
These changes are part of broader reforms aimed at enhancing the integrity and transparency of Murray–Darling Basin water markets, following recommendations from the Australian Competition and Consumer Commission (ACCC) inquiry.
To find out more information please visit Water market reform – DCCEEW.
For further details, please do not hesitate to contact our office.