You are the one comparing maple syrup to bananas. The Bonza arrangement is temporary, and although I am no expert, I would be confident in saying that Transport Canada's "regulatory burden" is as high or higher than Australia's. As others have pointed out, seasonal wet-leases are de rigueur overseas, so as long as they are allowed within set limits, why should Australia be any different? Arguably, the Trans-Tasman recognition is already doing what you describe and nobody is complaining about the number of ZK-registered freighters operating here.
The last paragraph makes no sense - why would any airline set up an Australian operation just to run at a loss? And what tax rebates? You're presenting a red herring argument.
Except the ZK registered freighters, such as Airwork, have Australian based pilots employed under an Australian Enterprise agreement represented by an Australian Pilot Union. This is different to the Flair set up.
As I said a while back - the fact that these are Canadian pilots probably means that people here are less inclined to show too much concern. But what would happen if the aircraft and pilots were to come from somewhere in the third world where pilots terms and conditions are significantly less than what our Canadian colleagues are paid?
I have a real concern that this is the thin end of the wedge. And there’s been multiple examples in the media where Bonza have suggested that they want this to be an ongoing relationship with Flair.
As an Australian pilot, employed in Australia, I do not find it acceptable, under any circumstances, of businesses undermining Australian pilot terms and conditions. And that’s exactly what Bonza are doing under this arrangement.