The NSW Government’s Commercial Fisheries Business Adjustment Program introduces linkages between shares and catch or effort. This will give fishers the ability to invest in their businesses with more certainty than ever before. Importantly, share linkages have been tailored to each share class.
Under the Business Adjustment Program, some commercial fishers may want to purchase more shares to secure their level of business activity, while others may choose to sell their shares and exit the industry. There is a range of assistance measures available to help industry through this transition process.
Please be aware that if you transfer any shares outside of the subsidised share trading market, the activity status of the fishing businesses engaged in the transfer may be affected.
Fishing Business Activity & Catch Record Statement
All fish business owners have been sent a Fishing Business Activity & Catch Record Statement in their registration pack. The statement identifies a shareholders share classes where catch or effort quota is the main linkage arrangement, and the quota allocation per share is known.
Subsidised share trading market invoices and payments
Once the subsidised share trading market has closed, the RAA will calculate the difference between payments and invoices where a shareholder is both a buyer and a seller in the market.
E.g. If you sell shares for $10 and buy shares for $20 the RAA will invoice you $10, or if you buy shares for $10 and sell shares for $20, you will receive a payment from the RAA for$10.
More information on business activity and catch record statements or the payment/invoicing process can be found on the Adjustment Subsidy Program page.
Fisher Care Line
The Fisher Care Line is now available providing a telephone based coaching session to any fishers affected by the NSW Commercial Fisheries Business Adjustment Program. These sessions will provide fishers with support if they are experiencing higher levels of stress that can be experienced when going through any transition period.
If you would like to make an appointment for a session, please call 1800 137 929 or email email@example.com
In December last year an inquiry was conducted into the Commercial Fisheries Business Adjustment Program. Today, the 23 February 2017, the report from that inquiry was tabled in Parliament. The report can be accessed via the link below.
The NSW Government recently engaged an independent consultant, Neil MacDonald, to advise of issues that should be considered regarding the implementation of the Business Adjustment Program.
After consultation with commercial fishers and industry stakeholders, including the Professional Fisherman’s Association, a range of issues were identified and additional measures developed to address key industry concerns raised, including the provision of greater certainty for those fishers undergoing the Independent Allocation Panel Process. More information can be found in the full response below.
The NSW Government welcomes the Report from the General Purpose Standing Committee No.5’s (PDF, 313.13 KB) inquiry into commercial fishing in NSW. We support all recommendations in principle and are working to quickly implement them.