Frequently asked questions
Which fishing licences are affected by the phasing out of netting?
Commercial fishers holding a Gippsland Lakes Fishery Access Licence are affected by this decision. These licence holders will be offered compensation packages and the licences cancelled.
There will be no change for other fishers in the Gippsland Lakes.
When will commercial fishing stop in the Gippsland Lakes?
The phasing out of the Gippsland Lakes Fishery Access Licences is proposed to occur over a two-year period. The first opportunity for industry to exit will be 1 April next year, with all affected licences phased out by 1 April 2021.
Who will receive compensation?
The Marine and Fisheries Legislation Amendment Bill 2019 specifies a compensation package for the 10 Gippsland Lakes Fishery Access Licence holders exiting the fishery, payable in the year in which they elect to exit.
How much compensation will each licence holder receive?
The proposed compensation formula each of the 10 Gippsland Lakes Fisheries Access Licence holders is:
i) Market value of the licence assessed by the Valuer General;
ii) An allowance for redundancy of commercial fishing equipment such as vessels and nets (with licence holders retaining their vessels and retaining the ability to sell their fishing equipment); and
iii) An amount to provide compensation for loss of income based on 3 times the average annual catch value taken under the licence between 1 April 2012 to 31 March 2017.
Compensation amounts will vary for each individual licence holder for example:
a licence holder earning on average $150,000 per year over the 5-year period will receive $130,000 x 3 (e.g. $450,000) for income support, plus the licence value (e.g. $371,000) and an allowance (e.g. $60,000) for gear and equipment. In this example the fisher would receive $881,000 compensation.
Who will administer the compensation packages?
The compensation packages will be administered by a third party i.e. Rural Finance.