More superyachts lured to Australia
Superyachts to bring super gains for Australian tourism and marine industriesShipping) Act 2012 will remove the prohibitive costs related to the
importation of a vessel and reduce the required number of chartered
voyages from five to one, delivering significant economic benefits for
the tourism and marine sectors.
As it now strands, foreign superyachts entering Australian waters must pay of 10 per cent of the value of vessel — a fee which often reaches into the millions.
It is feared the charge encourages luxury boats 24 metres and over to bypass Australia in favour of cheaper jurisdictions like New Zealand, Fiji and Tahiti.
Tourism Minister Steve Ciobo said the ammendments to the Coastal Trading Act 2012 would remove the "prohibitive" importation cost, leading to increased growth in the $1.9 billion sector.
Mr Ciobo told the ABC the proposed changes would be similar to superyacht legislation in New Zealand.
"The vessel can come into Australia, can be chartered in Australia, without having to pay GST on the purchase price," he said.
"Instead GST is paid on the price of the charter.
"What we’re now looking at trying to do is get legislation through again, but it will rely on getting support from the ALP or at least the Senate crossbench," he said.
DESTINATION AUSTRALIA
Of course, Australia has some of the most spectacular coastal and aquatic attractions in the world and some 70 per cent of all international visitors report enjoying coastal experiences as part of their trip.
The Turnbull Government says the 2018 Commonwealth Games on the Gold Coast gives the global superyachting community yet another reason to visit our shores.
But the big attraction is that superyachts are highly lucrative within the tourism sector...
It is estimated the superyacht industry today generates around $1.96 billion in Australia annually and, with the proposed reforms the industry, it estimates that superyachts could contribute an additional $1.12 billion to the Australian economy by 2021.
NEW SUPERYACHT AMENITIES
As we reported with this article
new Whitsundays boating plans activated,
the Turnbull Government has announced 21 new anchorage points with the Great Barrier Reef.
A new vessel boarding station has also launched on the Gold Coast to facilitate growth in this important tourism sector.
The Turnbull Government says it recognises the marine sector is an important part of our tourism offering and, it says, a strong marine sector goes hand in hand with a strong Australian economy.
As Australia welcomes a record number of international visitors who are staying longer and spending more, the Coalition will continue to provide opportunities for further growth in the tourism industry.
Ironically, Turnbull was outspoken in his opposition to the creation of superyacht berthing facilities at Rose Bay Marina at the foot of his electorate several years ago. Rose Bay residents feared they might lose views.
See Superyacht Australia for more news on this sector.
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