Introduction
Last week, the Australian Senate passed a package of shipping
industry reforms, which will come into force from 1 July
2012.
These reforms include the approval of the following Bills:
- Coastal Trading (Revitalising Australian Shipping) Bill 2012
(Coastal Trading Bill)
- Coastal Trading (Consequential Amendments and Transitional
Provisions) Bill 2012 (Coastal Trading Consequential
Bill)
- Shipping Registration Amendment (Australian International
Shipping Register) Bill 2012 (AISR Bill)
- Shipping Reform (Tax Incentives) Bill 2012
- Tax Laws Amendment (Shipping Reform) Bill 2012
Below is a short summary of the implications of each of these
Bills. For a more detailed analysis, please refer to our previous
commentary on the exposure drafts of these Bills which are
available
here and
here.
