New restrictions for recreational fishers in both the NT and in WA and new safety rulings in WA may impact buying plans with boat finance for some buyers. The restrictions and rulings may necessitate changes to what type of boat is purchased and/or what additional equipment may be required to be purchased in conjunction with the vessel.
We update on these latest restrictions, some of which have already come into effect, and how we can assist buyers with the boat finance side of their purchase to adhere to any new requirements.
WA New Fishing Restrictions
On the 1st February, new restrictions came into effect for recreational fishing on the WA coast from Kalbarri to Augusta. The new rulings are to provide recovery for species such as snapper and dhufish.
There is a ban on recreational fishing from a boat of demersal scalefish in the months of February and March, as well as from the start of August to the start of the school holidays in September/October and from the end of those holidays through to the 15th December.
Outside of those periods, there is a limit of 4 fish of these species per boat. Limits for dhufish have changed as have the size limits for a number of species. Fines could be as much as $5000.
Those impacted should check with WA Fisheries for specific rulings to ensure their fishing adventures are within the law.
NT Fishing Rulings
Bans have also been introduced in some areas of the NT. Recreational fishers now are banned from Mini Mini and Murgenella, east of Darwin. According to reports, this is in response to a request received from the traditional owners.
Commercial fishers are also impacted in regard to their major grounds for barramundi and threadfin salmon.
Recreational fishers that frequent these areas should check the NT Fisheries website for specifics.
WA New Boating Safety Rulings
WA Department of Transport has plans for new on-water safety regulations. The changes split up large and small boats and will be introduced in two stages.
Mandatory wearing of life jackets is seen as the major change and effects recreational boaters, PWC riders and at a later stage, users of other water-based non-registrable vessels. The changes are expected before the 2023/24 boating season gets underway so those buying new boats should be aware and prepared.
Another big change relates to the boat’s length no longer being a determinant of where the boat can go. The size restriction has been replaced with a rule that it is the responsibility of the boat skipper to assess the safe limits for the boat.
Requirements have also been lifted as to what needs to be carried on board, such as fire extinguishers etc but boat owners are strongly encouraged to still carry these items.
If cruising beyond 4 nautical miles of shore, boats will be required to have a VHF radio and use an approved LED base distress beacon. Changes are also planned for the wearing of life jackets and carrying electronic flares.
WA boaters are encouraged to stay updated with all their state’s boating rules to ensure they are compliant, safe and avoid fines.
Boat Buying and Boat Finance Impacts
For fishers that visit these areas and are planning new boat purchases, the new rulings may be cause for a rethink on some aspects of the purchase. It may require a rethink about the type of boat and what equipment is required.
Instead of purely a boat for fishing, a model that is equally suitable for say family recreational cruising may be a more versatile option. A model that has accommodation for overnight stays and/or more coverage from weather when children are onboard.
If changing the model or type of boat, our Secured Boat Loan will be likely still be suited. This versatile loan product is suited to most new vessels and second-hand models in good condition. The interest rates displayed by lenders relate to loans for new boats and for loan applicants that have a good credit rating. Be aware that interest rates can change and the rate offered will vary based on individual circumstances.
If needing to prepare for the new WA safety rulings, speak with Jade Boat Loans about our options for covering the cost of safety equipment in the boat finance for new boats. We work with individual buyers to, where possible, include the cost of life jackets and accessories such as electronic flares in the total loan amount.
This can often be achieved when the extra items are included with the boat purchase. These items are often available from many dealers that sell trailer boats. We do offer packages for boat and trailer finance.
To work up rough boat finance repayments on loans including any extras, use our calculator. Or simply contact us for a quick quote to assist with your boat purchase planning.
For quick quotes on boat finance contact Jade Boat Loans on 1300 000 003 for solutions
DISCLAIMER: THE INFORMATION AND SPECIFIC DETAILS CONTAINED IN THE CONTENT OF THIS ARTICLE HAVE BEEN PREPARED AND ARE PRESENTED PURELY AS GENERAL INFORMATION AND NOT INTENDED AS THE ONLY SOURCE OF FINANCIAL ADVICE FOR BOAT BUYERS AND LOAN BORROWERS. FOR THOSE THAT CONSIDER THEY REQUIRE SPECIFIC ADVICE, THEY SHOULD CONSULT WITH A FINANCIAL ADVISOR. LIABILITY IS NOT ACCEPTED IN REGARD TO ERRORS AND MISPRESENTED DATA AND DETAILS HEREIN.
