MEDIA RELEASE
For immediate release
Marine House
300 Morphett Street
Adelaide SA 5000
PO Box 10083
Adelaide BC SA 5000
T: +61 8 8212 6207
E: [email protected]
W: www.biaa.com.au
ABN: 96 149 274 724
Boating Industries Alliance welcomes GST
changes for recreational marine industry
In a much-awaited announcement from Treasury today, confirmation of an
extension to the period that a new-build recreational boat may remain in
Australian waters before export or liability to pay GST, has been welcomed by
the Boating Industries Alliance Australia.
“This is excellent news for Australian boatbuilders who have been struggling to
compete with overseas builders, many of which already enjoy such treatment by
their own tax authorities” said BIAA General Manager, Nik Parker. “Taking this
new ruling alongside the current high value of the AUD, it is good to see the
Government recognising the difficult trading environment in which the boating
industry is working right now, and I’m sure this will provide a much-needed
boost to our members”.
From 1 July 2011, boatbuilders in Australia will be able to sell recreational boats
GST-free if the boat is then exported by the purchaser within 12 months: the
current law provides only for a 60-day window. During this period the boat may
be used only for recreational purposes, but is free to explore all Australian
waterways and coastal regions.
Darren Vaux, Chairman of BIAA commented: “Recent studies into the economic
value of marinas show that boaters make a significant contribution to the
economy, particularly the impact on tourism-related spend in regional areas. We
welcome this news from Treasury and believe that not only will this measure
assist our already world-class boatbuilders to compete more fairly in the global
market, it will greatly benefit local industry and tourism with increased activity as
the new owners cruise through some of our outstanding boating destinations on
their way to their home port”.
The changes, to be introduced as part of the Tax Laws Amendment (2011
Measures No.3) Bill 2011, were passed in the Senate this morning and are now
awaiting Royal Assent.
The Boating Industries Alliance Australia is the national peak body for the
boating industry in Australia and represents all the state Boating Industry
Associations and Marine Queensland on national issues.
Contacts:
Darren Vaux – Chairman BIAA 02 9457 9011
Nik Parker – General Manager BIAA 08 8212 6207
www.biaa.com.au