Shipping industry escapes company tax and Fair Work Act | The Australian
AUSTRALIAN ship operators could pay zero company tax and bypass Labor's Fair Work Act when working international trade routes
The government will also set up an Australian international shipping register to allow ship owners to hire a mix of Australian and foreign seafarers who would not have to be employed under Labor's controversial Fair Work Act. The ship owner would instead be required to comply with the International Labour Organisation's Maritime Labour Convention and other treaties.
The surprise move on industrial relations, which is likely to infuriate the marine engineers union, is designed to allow domestic ship owners to compete with maritime nations with cheaper crew costs.
While a typical Australian container ship pays $4.06 million in crew costs a year, a foreign ship pays just $1.65m in crew costs.
We might as well just outsource the entire
country. Sell the parliament to China and be done with it.
If the government's serious about allowing companies to compete, why not exempt Australian based internationally exposed employees from Australian income tax. Allow us to pay comparable income tax rates to those paid by Singaporeans or those based in the UAE.
I'd be happy to be more competitive by taking a 50% pay cut if I wasnt paying the punitive income tax rates overseas labour competition isn't required to pay.