Australia — AI Law & Policy Updates Australia has not enacted a standalone AI Act, maintaining a voluntary framework as of 2026. The Voluntary AI Safety Standard's ten guardrails (governance, transparency, human oversight, testing, record-keeping) remain non-mandatory, while a 2024 proposal for mandatory high-risk AI guardrails is still unlegislated. The December 2025 National AI Plan reaffirmed reliance on existing laws and sector regulators, with the Privacy Act 1988 imposing penalties up to A$50 million for serious breaches. Australia's AI Ethics Principles 2019, voluntary · Voluntary AI Safety Standard Sept 2024 · Proposed mandatory guardrails for high-risk AI consultation · Privacy Act 1988 as amended 2024 — Status: Voluntary framework Australia has chosen not to enact a standalone AI Act. As of 2026, AI-specific obligations are voluntary — businesses are encouraged to follow the Voluntary AI Safety Standard's ten guardrails governance, transparency, human oversight, testing, record-keeping . A 2024 proposal for mandatory guardrails on high-risk AI remains unlegislated; the December 2025 National AI Plan reaffirmed reliance on existing laws and sector regulators. The main statutory exposure for AI is the Privacy Act 1988, where serious breaches now risk penalties up to A$50 million. Recent developments: