The Australian Government has released draft legislation to
enact the tax reforms for the Australian Shipping Industry
announced last year.
The reforms are part of a package intended to stimulate the
industry and create an internationally competitive industry.
The package of reforms comprises:
- tax exemption for qualifying activities by Australian shipping
companies
- simplified licensing for shipping activities
- establishment of an Australian International Shipping
register
- establishment of a Maritime Workforce Development Forum
These reforms build on the discussion paper and consultation
process referred to in Shipping Matters dated 13 September
2011.
These reforms are welcome but without conclusion of the
"compact" with the Labour movement may have little impact
on cost competitiveness of Australian ships and very little impact
on the Australian industry.
