Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The Commonwealth must pay to the Fisheries Research and Development Corporation, in relation to a financial year (the relevant financial year ), amounts that in total are equal to the sum of payable amounts worked out under this section (rounded to the nearest whole cent and rounding up in the case of 0.5 cents).
Note: For spending requirements for amounts paid under subsection (1), see section 35.
(2) A payable amount is the lesser of the following:
(a) the Corporation's relevant fishing expenditure amount for the relevant financial year;
(b) the amount equal to 0.5% of the average total main fishing industry GVP amount for the relevant financial year.
Note: For average total main fishing industry GVP amount , see section 29.
Example: Assume for the 2025 - 26 financial year the Fisheries Research and Development Corporation's relevant fishing expenditure amount is $14 million.
Assume the average total main fishing industry GVP amount for the 2025 - 26 financial year is $3.2 billion. 0.5% of that amount is $16 million.
As the relevant fishing expenditure amount is less than $16 million, a payable amount is $14 million.
(3) The Corporation's relevant fishing expenditure amount for a financial year is the sum of the following:
(a) the expenditure the Corporation incurs during that year on research and development activities for the fishing industry (except any declared fishery), where expenditure on those activities is:
(i) for the benefit of the fishing industry (except any declared fishery); and
(ii) for the benefit of the Australian community generally; and
(iii) in accordance with the Corporation's funding agreement; and
(iv) in accordance with the Corporation's annual operational plan;
(b) the expenditure the Corporation incurs during that year in doing the following (except in relation to any declared fishery):
(i) paying or discharging expenses, charges, obligations and liabilities incurred by the Corporation in the performance of its functions or the exercise of its powers;
(ii) paying remuneration, allowances, fees or expenses payable under the Primary Industries Research and Development Act 1989 .
Note 1: For research and development activity , see section 9.
Note 2: Paragraphs (a) and (b) cover expenditure the Corporation incurs, regardless of the source of the money that is being spent. Examples of sources of money are payments by the Commonwealth under Division 2, payments by a State or Territory or an authority of a State or Territory and voluntary industry contributions.
Note 3: For expenditure to which paragraphs (a) and (b) do not apply, see section 28.
(4) Subparagraph (3)(b)(i) does not apply to expenditure on a matter covered by subsection 21(2), (4), (5) or (6).
Payable amounts worked out using the average Commonwealth main fishing industry GVP amount
(5) If the relevant fishing expenditure amount is 1% or more of the average total main fishing industry GVP amount for the relevant financial year, a payable amount is the amount worked out as follows:
Method statement
Step 1. Work out the amount equal to 0.25% of the average Commonwealth main fishing industry GVP amount for the relevant financial year.
(a) so much of the amounts paid to the Corporation under section 15 during the relevant financial year as are equal to research and development collected amounts, less any refunds that are attributable to payment of those research and development collected amounts;
(b) the total amount paid to the Corporation under subsection 36(1) during the relevant financial year.
Step 3. If the amount at step 1 is less than or equal to the amount at step 2, the amount at step 1 is a payable amount.
Step 4. If the amount at step 1 exceeds the amount at step 2, the amount at step 2 is a payable amount.
Note 1: For average total main fishing industry GVP amount , see section 29 and for average Commonwealth main fishing industry GVP amount , see section 30.
Note 2: Paragraph (a) of step 2 does not apply in relation to certain levies or charges: see subsection (11).
Example: Assume for the 2025 - 26 financial year the Fisheries Research and Development Corporation's relevant fishing expenditure amount is $33 million.
Assume the average total main fishing industry GVP amount for the 2025 - 26 financial year is $3.2 billion. 1% of that amount is $32 million.
Assume the average Commonwealth main fishing industry GVP amount for the 2025 - 26 financial year is $500 million. 0.25% of that amount is $1.25 million (the amount at step 1).
Assume the amount at step 2 is $1.1 million.
As the amount at step 1 exceeds the amount at step 2, under step 4 a payable amount is $1.1 million.
(6) If the relevant fishing expenditure amount is more than 0.5%, but less than 1%, of the average total main fishing industry GVP amount for the relevant financial year, a payable amount is the amount worked out as follows:
Method statement
Step 1. Work out the amount equal to 0.5% of the average total main fishing industry GVP amount for the relevant financial year.
Step 2. Subtract the amount at step 1 from the relevant fishing expenditure amount.
Step 3. Express the amount at step 2 as a percentage of the average total main fishing industry GVP amount for the relevant financial year.
Step 4. Multiply the percentage at step 3 by the average Commonwealth main fishing industry GVP amount for the relevant financial year.
Step 5. Work out half of the amount at step 4.
Step 6. Work out the sum of the following:
(a) so much of the amounts paid to the Corporation under section 15 during the relevant financial year as are equal to research and development collected amounts, less any refunds that are attributable to payment of those research and development collected amounts;
(b) the total amount paid to the Corporation under subsection 36(1) during the relevant financial year.
Step 7. If the amount at step 5 is less than or equal to the amount at step 6, the amount at step 5 is a payable amount.
Step 8. If the amount at step 5 exceeds the amount at step 6, the amount at step 6 is a payable amount.
Note 1: For average total main fishing industry GVP amount , see section 29 and for average Commonwealth main fishing industry GVP amount , see section 30.
Note 2: Paragraph (a) of step 6 does not apply in relation to certain levies or charges: see subsection (11).
Example: Assume for the 2025 - 26 financial year the Fisheries Research and Development Corporation's relevant fishing expenditure amount is $20 million.
Assume the average total main fishing industry GVP amount for the 2025 - 26 financial year is $3.2 billion. 1% of that amount is $32 million and 0.5% of that amount is $16 million.
Assume the average Commonwealth main fishing industry GVP amount for the 2025 - 26 financial year is $500 million.
Working through the method statement as follows:
(a) the amount at step 1 is 0.5% of $3.2 billion, which is $16 million;
(b) the amount at step 2 is $20 million minus $16 million, which is $4 million;
(c) the percentage at step 3 is $4 million divided by $3.2 billion, which is 0.125%;
(d) the amount at step 4 is $500 million multiplied by 0.125%, which is $625,000;
(e) the amount at step 5 is $312,500;
(f) assume the amount at step 6 is $1.1 million;
(g) as the amount at step 5 is less than the amount at step 6, under step 7 a payable amount is $312,500.
Payable amounts where State or Territory makes fishing payments
(7) If:
(a) the relevant fishing expenditure amount is 1% or more of the average total main fishing industry GVP amount for the relevant financial year; and
(b) a State or Territory makes one or more payments in the relevant financial year to the Corporation, or to the Commonwealth, for research and development in relation to the main fishing industry;
a payable amount is the amount worked out as follows:
Method statement
Step 1. Work out the amount equal to 0.25% of the average State/Territory main fishing industry GVP amount for the relevant financial year and the State or Territory.
Step 2. If the amount at step 1 is less than or equal to the total of the payments made by the State or Territory, the amount at step 1 is a payable amount.
Step 3. If the amount at step 1 exceeds the total of the payments made by the State or Territory, the total of the payments made by the State or Territory is a payable amount.
Note: For average total main fishing industry GVP amount , see section 29 and for average State/Territory main fishing industry GVP amount , see section 31.
Example: Assume for the 2025 - 26 financial year the Fisheries Research and Development Corporation's relevant fishing expenditure amount is $33 million.
Assume the average total main fishing industry GVP amount for the 2025 - 26 financial year is $3.2 billion. 1% of that amount is $32 million.
Assume a State makes a $750,000 payment in the 2025 - 26 financial year to the Corporation for research and development in relation to the main fishing industry.
Assume the average State/Territory main fishing industry GVP amount for the 2025 - 26 financial year and the State is $500 million. 0.25% of that average is $1.25 million (the amount at step 1).
As the amount at step 1 exceeds the amount of the payment made by the State, under step 3 a payable amount is $750,000.
(8) If:
(a) the relevant fishing expenditure amount is more than 0.5%, but less than 1%, of the average total main fishing industry GVP amount for the relevant financial year; and
(b) a State or Territory makes one or more payments in the relevant financial year to the Corporation, or to the Commonwealth, for research and development in relation to the main fishing industry;
a payable amount is the amount worked out as follows:
Method statement
Step 1. Work out the amount equal to 0.5% of the average total main fishing industry GVP amount for the relevant financial year.
Step 2. Subtract the amount at step 1 from the relevant fishing expenditure amount.
Step 3. Express the amount at step 2 as a percentage of the average total main fishing industry GVP amount for the relevant financial year.
Step 4. Multiply the percentage at step 3 by the average State/Territory main fishing industry GVP amount for the relevant financial year and the State or Territory.
Step 5. Work out half of the amount at step 4.
Step 6. If the amount at step 5 is less than or equal to the total payments made by the State or Territory, the amount at step 5 is a payable amount.
Step 7. If the amount at step 5 exceeds the total payments made by the State or Territory, the total payments made by the State or Territory is a payable amount.
Note: For average total main fishing industry GVP amount , see section 29 and for average State/Territory main fishing industry GVP amount , see section 31.
Example: Assume for the 2025 - 26 financial year the Fisheries Research and Development Corporation's relevant fishing expenditure amount is $20 million.
Assume the average total main fishing industry GVP amount for the 2025 - 26 financial year is $3.2 billion. 1% of that amount is $32 million and 0.5% of that amount is $16 million.
Assume a State makes a $750,000 payment in the 2025 - 26 financial year to the Corporation for research and development in relation to the main fishing industry.
Assume the average State/Territory main fishing industry GVP amount for the 2025 - 26 financial year for the State is $500 million.
Working through the method statement as follows:
(a) the amount at step 1 is 0.5% of $3.2 billion, which is $16 million;
(b) the amount at step 2 is $20 million minus $16 million, which is $4 million;
(c) the percentage at step 3 is $4 million divided by $3.2 billion, which is 0.125%;
(d) the amount at step 4 is $500 million multiplied by 0.125%, which is $625,000;
(e) the amount at step 5 is $312,500;
(f) as the amount at step 5 is less than the $750,000 payment made by the State, under step 6 a payable amount is $312,500.
Overall limit
(9) Despite subsections (2) to (8), the total of the amounts paid by the Commonwealth to the Corporation in relation to the relevant financial year must not exceed 0.75% of the average total main fishing industry GVP amount for the relevant financial year.
Note: For average total main fishing industry GVP amount , see section 29.
Making payments
(10) The Commonwealth must make the payments under subsection (1) in the amounts, and at the times, that the Commonwealth determines. Those times may be after the end of the relevant financial year.
Other rules
(11) Paragraph (a) of step 2 of the method statement in subsection (5), and paragraph (a) of step 6 of the method statement in subsection (6), do not apply in relation to a declared fishery levy or charge in relation to a declared fishery.
(12) Subsections (7) and (8) apply separately in relation to each State or Territory that makes a payment in the relevant financial year to the Corporation, or to the Commonwealth, for research and development in relation to the main fishing industry.