The package of coastal shipping reform Bills received Royal Assent on Thur 21.6.2012:
- Shipping Reform (Tax Incentives) Bill 2012– Act No 53 of 2012;
- Registration Amendment (Australian International Shipping Register) Bill 2012 – Act No 54 of 2012;
- Coastal Trading (Revitalising Australian Shipping) Bill 2012 – Act No 55 of 2012;
- Coastal Trading (Revitalising Australian Shipping) (Consequential Amendments and Transitional Provisions)Bill 2012 – Act No 56 of 2012; and
- Tax Laws Amendment (Shipping Reform) Bill 2012– Act No 57 of 2012. [FJM Note: This introduces significant tax reform – effectively exemption for operating vessels, whilst keeping the attractions of owning and financing vessels.]
[LTN 119, 22/6]