MFA submits letter to Australian Treasury on non-compete agreement proposal

MFA submitted a letter to Australia's Department of Treasury responding to the Departments proposal on non-compete agreements. The letter applauds the Department for preserving non-competes for high earners, and makes further recommendations to strengthen the proposal. MFA's recommendations include:

• Exclude forfeiture-for-competition agreements from the definition of non-compete clauses.
• Include bonuses and incentive-based payments in the calculation of the high-income threshold under the Fair Work Act.
• Preserve existing non-compete clauses in contracts made before the reform's start date.