Primary Industries Research and Development (Gross Value of Production of Commonwealth Fisheries for 2024-25) Determination 2025

Overview

The Primary Industries Research and Development (Gross Value of Production of Commonwealth Fisheries for 2024-25) Determination 2025I was enacted in 2025 to address a specific economic and statistical need within the fisheries sector managed by or on behalf of the Commonwealth. This Determination was made under the authority of the Primary Industries Research and Development Act 1989, as amended by the Primary Industries (Consequential Amendments and Transitional Provisions) Act 2024, by Sarah-Jane McCormack, acting as a delegate of the Minister for Agriculture, Fisheries and Forestry. The primary objective of this Determination is to establish the gross value of production (GVP) for the Commonwealth fisheries for the financial year commencing on 1 July 2024, ensuring accurate assessment and allocation of funds for research and development initiatives within the sector. By setting the GVP at $396,481,000, the Determination provides a clear financial benchmark to facilitate effective planning and investment in the fisheries industry.

Scope and Application

The Primary Industries Research and Development (Gross Value of Production of Commonwealth Fisheries for 2024-25) Determination 2025I applies specifically to the Commonwealth's fisheries industry, targeting entities involved in the production of goods from fisheries managed by or on behalf of the Commonwealth. This determination is made under subsection 30A(4) of the Primary Industries Research and Development Act 1989 (PIRD Act), which continues to apply as amended by the Primary Industries (Consequential Amendments and Transitional Provisions) Act 2024. The determination sets the gross value of production for the Commonwealth's fisheries for the financial year starting on 1 July 2024 at $396,481,000. This figure is critical for calculating the contributions and levies applicable under the PIRD Act for the financial year in question, ensuring that the appropriate funding is allocated for research and development initiatives within the fisheries sector. The determination is binding on all relevant entities within the Commonwealth's fisheries industry and has a jurisdictional reach that is national, as it pertains to the management and oversight of fisheries under federal control.

Key Provisions

The Primary Industries Research and Development (Gross Value of Production of Commonwealth Fisheries for 2024-25) Determination 2025I, made under section 30A(4) of the Primary Industries Research and Development Act 1989 (PIRD Act), sets the gross value of production (GVP) for Commonwealth fisheries for the financial year beginning on 1 July 2024 at $396,481,000. This determination is crucial as it provides the financial baseline for funding allocations related to research and development within the fisheries sector. The figure of $396,481,000 is calculated based on the produce of the fishing industry managed by or on behalf of the Commonwealth, ensuring that the financial resources are appropriately directed towards initiatives aimed at enhancing productivity and sustainability in the sector. Entities and parties governed by this Act, particularly those within the fishing industry, must adhere to the financial parameters set by this Determination. These entities are required to ensure that their production values are accurately reported and aligned with the established GVP figure. Such adherence is necessary for compliance with the funding mechanisms outlined under the PIRD Act. Accurate reporting and compliance are crucial to ensure that the intended benefits of research and development initiatives are effectively realised, thereby supporting the growth and innovation within the Commonwealth's fishing industry. Failure to comply with the provisions of this Determination can lead to various civil and criminal consequences. The Act imposes penalties for non-compliance, which may include fines or other sanctions as prescribed by law. While the exact penalties are not detailed in the text, they are intended to enforce adherence to the established GVP and to ensure that the financial resources are appropriately allocated for the intended purposes. It is essential for the governed entities to maintain accurate records and to ensure their practices are in line with the legislative requirements to avoid any legal repercussions.