Federal Budget 2023/24: increased privacy funding for the OAIC

As part of the 2023/24 Budget, the Federal Government has allocated $45.2 million over four years (and $8.4 million per year ongoing) to strengthen privacy protection and enforcement.

On 9 May 2023, the Treasurer delivered the 2023/24 Budget (discussed more generally here), which outlines the Federal Government's further investment into the privacy activities and initiatives of the Office of the Australian Information Commissioner (OAIC) and the Attorney-General's Department.

OAIC areas of focus and funding breakdown in 2023/24

The Budget set out the major areas of focus for the OAIC in 2023/24, which include:

• regulating compliance and supporting entities to take a proactive approach to their obligations under the Australian Privacy Principles and the Notifiable Data Breaches scheme, and co-regulating the Consumer Data Right; and