Stimulus Package for Australian Shipping

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In September 2011, the Federal Government announced a new and far-reaching policy package aimed at re-invigorating the Australian shipping industry. The policy, which might be described as the ‘stimulus package for Australian shipping’, seeks to introduce three key changes:

1. tax reform;

2. the creation of an Australian international shipping register; and

3. a new coastal shipping licensing regime.

The reforms are aimed at encouraging Australian owned and/or operated shipping ventures. The proposed new laws will be tabled for consultation later this year and are intended to come into force in July 2012.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Nathan Cecil, Norton White | Attorney Advertising

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