Published on 23 May 13
by TASMANIAN DIVISION, THE TAX INSTITUTE
Access to an appropriate and reliable water supply is critical to the success of any primary production venture. Water rights are a hot topic in many parts of Australia, and Tasmania is investing heavily in ensuring that its abundant water is made available where it is most needed. This paper starts with a short “Water Rights 101” component, and then covers:
- the Tasmanian experience in developing new generation irrigation schemes
- why other Australian irrigation schemes will likely follow the Tasmanian lead with new generation schemes
- the legal and practical implications of the new generation irrigation schemes: issuing of water entitlements, trading water entitlements, temporary and permanent entitlements, public searchable registers, mortgaging water entitlements
- commentary on the tax implications of the new generation schemes.