Another Step Forward For Australia’€™s Space Industry

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Another Step Forward For Australia’€™s Space Industry

Treasurer's Press Release NO. 060


The Hon. Peter Costello, MP

The Hon. John Moore, MP


Minister for Industry,

Science and Tourism

Tuesday 23 June 1998


Another Step Forward For Australia’s Space Industry

The Federal Government has granted a wholesale sales tax (WST)

exemption for space launch vehicles and satellites. The exemption applies to vehicles and

satellites actually launched. It is designed to facilitate Australia’s commercial

space industry.

The exemption was announced today by the Treasurer, Peter Costello, and

the Minister for Industry, Science and Tourism, John Moore.

“This is a green light for an exciting and profitable industry to

establish in Australia,” Mr Costello said. “The Government decision to grant, as

from today, a WST exemption for equipment that is actually launched provides a significant

boost for the commercial space launch industry in Australia.”

Mr Moore said the agreement sends a clear message to potential

investors, confirming the Federal Government’s support for this new industry.

“Today’s announcement reflects our commitment to boosting

investment through the policies outlined in the Government’s industry statement, Investing

for Growth. In this case, the net economic benefits for Australia are clear and

without this support the project may not have proceeded.”

“Satellites will be key components in the highly competitive

information and technology and communications industries,” said Mr Moore. “The

Federal Government’s policies are placing Australia at the forefront of this

state-of-the-art industry.”

The WST agreement will enable ventures such as the Kistler Aerospace

project at Woomera to confidently take the first step in preparing infrastructure for

launch operations in Australia.

“Construction and operation of space launch facilities will

generate employment and contribute to national and regional economic growth,” Mr

Moore said.

“Our well developed infrastructure and technically proficient

workforce, coupled with our ideal geographic location, makes Australia the perfect

investment opportunity for the booming global space launch industry,” said Mr Moore.

Both Mr Costello and Mr Moore acknowledged that the Federal

Government’s decision to grant WST exemption for launched equipment in space launch

operations will further enhance Australia’s attractiveness to investors in this

specialised field.


Chris Wordsworth —

Media Adviser — 02 62777580 0419 982482


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