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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