How will the budget impact commercial fishing?
The Federal Budget was delivered last week with a strong focus on productivity, economic resilience, national security, trade diversification and cost-of-living pressures.
Seafood Industry Australia has provided an outline as to what the changes mean for Australia’s seafood industry.
Fuel
Fuel security was a major focus of this year’s Budget, with the Government announcing up to $11.9 billion over five years through a new National Fuel Security Plan. Measures include increasing Australia’s fuel reserves, establishing a Fuel and Fertiliser Security Facility, supporting freight and maritime resilience, and investing in domestic refining and storage capability.
For the seafood industry, these announcements are particularly significant given the sector’s reliance on fuel across commercial fishing, aquaculture operations, refrigeration, processing and freight logistics. Continued volatility in global fuel markets remains one of the most immediate operational pressures facing seafood businesses.
The Budget also includes support for freight resilience and maritime transport, including a pilot program designed to increase freight volumes by rail and maritime transport.
SIA will continue advocating for long-term fuel security settings that recognise seafood as an essential food production industry and the disproportionate impact fuel costs have on regional and marine-based operators.
Resource Security
The Budget includes additional funding to strengthen Australia’s northern border and respond to illegal foreign fishing activity, including continued support for the Australian Border Force and the Australian Fisheries Management Authority.
Protecting Australia’s marine resources and maintaining strong compliance and enforcement frameworks remains critical for the long-term sustainability and integrity of Australian fisheries.
The Government also announced broader investments in economic resilience and supply chain security in response to increasing global instability and disruption.
Transparency and Traceability
The Government announced funding to streamline regulatory systems, improve data access and strengthen digital infrastructure.
The Budget includes investment in secure access to data and continued development of the Consumer Data Right framework, which may influence future approaches to supply chain transparency, traceability and data sharing across the food production sector.
As consumer expectations and export market requirements continue evolving, transparency and traceability remain increasingly important to maintaining trust in Australian seafood products both domestically and internationally.
Nature and Climate Change Resilience
The Budget includes significant funding reallocations and reforms across the climate, environment and water portfolios.
Importantly for seafood businesses, the Government confirmed continued implementation of reforms to the Environment Protection and Biodiversity Conservation Act, including establishment of a new National Environmental Protection Agency and expanded investment in digital environmental approvals systems.
Funding was also announced to modernise environmental information and approvals systems, progress bilateral agreements with states and territories, and develop strategic assessments aimed at reducing duplication and streamlining approvals processes.
SIA will continue engaging closely with Government to ensure environmental reforms:
- are science-based and practical
- recognise the importance of seafood in the national food security mandate
- reduce duplication
- recognise the importance of continued access to marine resources and aquaculture development opportunities
The Budget also includes continued investment in circular economy initiatives, emissions reporting capability and carbon credit integrity frameworks.
Biosecurity
Biosecurity and scientific capability continue to feature strongly within this year’s Budget.
The Government announced:
- additional support for the Australian Pesticides and Veterinary Medicines Authority
- continued investment in the CSIRO and national disease preparedness capability
- establishment of a National Resilience and Science Council to improve coordination of research and development priorities
Strong biosecurity systems remain critical to protecting Australia’s fisheries, aquaculture operations and export reputation.
Workforce Development
The Government announced reforms to skilled migration, migration integrity and workforce planning, with over 70 per cent of permanent migration places allocated to the Skill stream.
Changes to migration settings, skills recognition and apprenticeship support may have implications for seafood processing, aquaculture and regional workforce shortages.
SIA will continue advocating for:
- practical regional workforce solutions
- recognition of seafood workforce shortages
- access to skilled labour pathways
- training settings that support long-term industry capability
The Budget also includes additional funding for small business mental health and financial counselling support programs.
Market Access and Trade
The Budget includes several measures aimed at strengthening export capability, trade diversification and international market engagement.
The Government announced:
- $77.1 million to sustain agricultural export and trade functions
- continued investment in international engagement and market access activities
- implementation funding for the Australia–European Union Free Trade Agreement
- expansion of the Australian Trusted Trader Program and a new Approved Exporter Scheme
- support for exporters navigating changing global trade conditions
For seafood exporters, these measures may improve trade efficiency, reduce administrative burden and support export diversification into new and emerging markets.
Trade resilience and maintaining reliable market access remain critical priorities for the Australian seafood industry as global conditions continue to evolve.
Safety and Wellbeing
The Budget includes additional funding for mental health, employment support and Medicare services.
Mental health and wellbeing continue to be important issues across regional and marine industries, particularly as businesses manage ongoing operational, economic and regulatory pressures.
Other
Several tax and small business measures announced in the Budget may provide relief or greater flexibility for seafood businesses.
The Government announced:
- permanent extension of the $20,000 instant asset write-off for eligible small businesses
- reforms allowing eligible businesses to carry back tax losses and offset them against previous years’ tax paid
- refundable tax support for eligible start-up companies from 2028
These measures may support seafood businesses investing in vessels, refrigeration, processing equipment, digital systems and operational upgrades.
The Budget also proposes significant reforms to capital gains tax and discretionary trust taxation arrangements.
As many seafood businesses operate through family companies and trust structures, SIA will monitor these reforms closely to better understand the implications for intergenerational family businesses and succession planning across the industry.
The Government also announced a second tranche of 497 “nuisance tariffs” will be abolished from 1 July 2026.
While these are import tariffs rather than export tariffs, the changes may reduce costs associated with imported seafood equipment, refrigeration systems, vessel components and processing infrastructure.
The Budget also includes savings measures across the Agriculture, Fisheries and Forestry portfolio, including reductions in some uncommitted grant funding and trade-related programs.
At the same time, the Government announced reforms to the Research and Development Tax Incentive aimed at increasing support for core research and innovation activities.
As the details of these measures continue to emerge, SIA looks forward to ongoing constructive engagement with Government to ensure seafood industry priorities are recognised within future policy and budget decisions.
For more information on the 2026-27 Federal Budget, or specific points please go to budget.gov.au