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Shipping Matters



    New Personal Property Security (“PPS”) Rules apply to leases. Don’t let your ship ‘sail away’!

    It is expected that from 30 January 2010 shipowners that do not register their interest in a vessel (under the Personal Property Security Legislation), that is bareboat leased to an Australian based operation will have their ownership in the asset exposed and can potentially lose title over the vessel

    Significant reform to Australian shipping regime announced

    The Australian Government has announced significant reforms for the Australian Shipping Industry. The reforms are intended to stimulate the industry and create an internationally competitive industry.



    FUEL TAX CREDITS REDUCED FOR SHIPPERS UNDER GOVERNMENTS CARBON TAX SCHEME

    Following the government’s announcement on the proposed Carbon Tax scheme from 1 July 2012, the rate of fuel tax credits on the acquisition of eligible fuel used in marine transport activities will be reduced. In 2012-3 the fuel credit for diesel used in marine transport will be reduced by more than 6 cents per litre.

    Government announces sweeping reforms to Shipping Tax System

    The Australian Labour Government released a discussion paper on “Reforming Australia’s Shipping Industry”. The paper examines shipping and seafarers taxes, tonnage tax, International and Coastal Shipping

    The Government announces sweeping reform to Australian Shipping Policy to make the industry more competetive including change to taxation, training, and wages policy.

    The Government today announced sweeping changes to Australian shipping policy designed to stimulate Australian shipping

    How does the 2009-10 Budget affect the shipping industry?

    The Federal Budget has introduced several significant changes that are likely to affect the Shipping Industry.

    Shippers deserve more credit

    On the 7 April 2008 Assistant Treasurer and Minister for Competition Policy and Consumer Affairs, Chris Bowen, released exposure draft legislation and commentary for the Carbon Pollution Reduction Scheme (CPRS) Fuel Tax Adjustment Arrangements (the “draft legislation”).

    Moore Stephens Shipping Survey

    Moore Stephens Shipping Confidence Survey

    The Moore Stephens Shipping team runs a regular, global survey of key decision makers in the shipping industry to assess confidence levels. 

    .

    Henry Review of Tax Concessions for Australia’s ships

    Recently we emailed you an edition of “Shipping Matters!” advising that the Committee on Infrastructure Regional Development and Local Government recommended 14 changes for industry reform (click here for copy). The Committee recommended the introduction of a tonnage tax regime, accelerated depreciation provisions and amendments to the taxation of seafarers
    (s 23AG).

    Tax concessions and incentive plans for Australia’s ships

    Australia’s shipping industry received a much needed life-line when the report ‘Rebuilding Australia’s Coastal Shipping Industry’ was tabled into Federal Parliament on 20 October 2008.



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