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Taxation of shipping profits – a sea of complexity

Published on 01 Aug 08 by "THE TAX SPECIALIST" JOURNAL ARTICLE

This paper provides a brief overview of the taxation of shipping profits in Australia. The shipping industry is currently undergoing a boom, which has been fuelled by demand for Australia’s resources, and there has been an increased focus on the taxation of profits derived by shipping enterprises, further intensified by a recent Full Federal Court decision and a raft of ATO rulings and determinations. This paper highlights some of the key taxation issues that shipping enterprises should consider.

Author profiles:

Fiona MURPHY
Tax Principal, Deloitte Perth.
Current at August 2008

 
Julian CHENG

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