The package of Bills to reform the shipping industry was passed with amendments on Thur 31.5.2012, by the House of Reps and now move to the Senate.
- The was Shipping Reform (Tax Incentives) Bill 2012amended to further clarify which vessels will be eligible for the tax concessions. Vessels will need to be over 500 gross tonnes and registered under either Australia’s primary or International Shipping Registers. Additionally, vessels may not be eligible if they fall within the list of excluded vessels in proposed subclause 10(4). The Government says the list aims to confine the concession to the so-called “blue water” fleet.
- The Tax Laws Amendment (Shipping Reform) Bill 2012 was amended as a consequence of the above amendments.
- The Shipping Registration Amendment (Australian International Shipping Register) Bill 2012 and the Coastal Trading (Revitalising Australian Shipping) Bill 2012 were both amended in response to issues raised by stakeholders, as well as addressing other minor and technical matters to correct inadvertent mistakes.
- The Coastal Trading (Revitalising Australian Shipping) (Consequential Amendments and Transitional Provisions) Bill 2012 was amended to note that the Act (once assented) does not apply if a prescribed ship is a ship registered in the Australian International Shipping Register.
[LTN 104, 31/5]