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Budget announces that Government is one step closer to providing relief for non-resident transporter
- By Moore Stephens
- Published 19/05/2010
- Shipping Matters
- Unrated
In the 2010-11 Federal Budget, the Government has announced that it will
implement all the recommendations of the Board of Taxation review of
the application of GST to cross-border transactions, with effect from 1
July 2012. This measure is intended to provide non-resident entities
relief from the compliance burden of being caught within Australia’s GST
system and Australian resident entities with greater certainty on GST
issues relating to transportation. The Government announced this review
in the 2009-10 Federal Budget along with other measures relating to GST
and cross border transactions. It is disappointing that none of these
measures have been legislated. Nevertheless, these changes are
favourable to non-resident transporters as they will provide significant
relief from the burden of complying with Australia’s GST system.
Some GST relief for non-resident transporters
- By Moore Stephens
- Published 4/03/2010
- Shipping Matters
- Unrated
On 26 February 2010, the Assistant Treasurer released draft legislation and explanatory material to change the application of GST on domestic transport where it is part of international transport. These changes were announced in the last Federal Budget and are aimed at reducing the GST compliance burden for transport providers. The Government has only provided one week for public submissions to be made on the draft legislation with the deadline being 5th March. This leaves interested parties with minimal time to absorb the proposed changes and determine whether they provide a solution for the current complicated GST outcomes that arise for resident and non-resident transporters of goods.
Shipping confidence survey report - September 2009
- By Moore Stephens
- Published 7/10/2009
- Shipping Matters
- Unrated
Our latest Shipping Confidence Survey records a continuing rise in overall confidence levels in the shipping industry over the past three months. It also reveals a growing awareness of the impact which the growth of China may have on the way the industry conducts its business.
How does the 2009-10 Budget affect the shipping industry?
- By Stephen Adrian
- Published 15/05/2009
- Shipping Matters
- Unrated
Shippers deserve more credit
- By Stephen Adrian
- Published 23/04/2009
- Shipping Matters
- Unrated
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
- By Stephen Adrian
- Published 19/01/2009
- Shipping Matters
- Unrated
Moore Stephens Shipping Confidence Survey
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Henry Review of Tax Concessions for Australia’s ships
- By Stephen Adrian
- Published 12/12/2008
- Shipping Matters
- Unrated
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).
(s 23AG).
Tax concessions and incentive plans for Australia’s ships
- By Stephen Adrian
- Published 5/11/2008
- Shipping Matters
- Unrated
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.