Ah, made a boob!! That limit is for charter ops which was my experience to/from YMKI eons ago, no limit for private ops - AIP ENR 1.1-100. Prudence, however, would nonetheless suggest the shortest route over water the better choice irrespective of the category.
As for wearing life jackets, seen many examples where, despite the regs requiring them, they stayed in place in their packets in the seat pockets. Surviving a ditching in Bass Strait is the first challenge, not dying from exposure is the next awaiting rescue. Many years ago there were survivors from a ditching in Bass Strait who perished awaiting rescue. Life jackets weren't much use to them.