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How many aircraft owners will be able to afford to keep their aircraft onLine with an aero club when the new aircraft registration tax is brought in on July 1, 1992?
New Taxes for Aircraft Owners
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New Tax on Aircraft Owners Another Blow to Aviation
Following on from the Government’s reneging on its agreement with the CAA to fund the so called Safety Contract, discussions have been taking place with industry to determine just how the shortfall should be funded.
The original agreement was that the Government would fully fund the cost of setting and monitoring compliance with safety standards, until 1995/6. This agreement was unilaterally scrapped by the Government in August 1990 when it announced that it would commence progressive cost recovery from November 1 1991 (subsequently amended to July 1 1992).
The full costs per annum are conjectured as being $74m although the CAA cannot substantiate this figure; $17m is understood to cover standing corporate overheads leaving something over $46m as the actual cost. The long and short of it is that a third of this amount ($15m) has to be recovered in 1992/93; all owners of aircraft on the Australian register will have to foot the bill. Of major significance though is that this amount will double the following year and treble the year after.
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