Commercial fishers who catch more fish than their annual catch entitlement may be charged the 'deemed value' of the extra catch. Learn how deemed values work and find the latest rates.
About deemed values
If you catch more fish than your annual catch entitlement (ACE), you will have to either:
- pay the 'deemed value' of the extra catch
- buy more ACE to cover it.
The deemed value is calculated using a rate set by MPI for each fish stock in the Quota Management System (QMS).
Deemed values are higher than the cost of buying ACE. This encourages commercial fishers to use ACE to balance their catch – and keep catch within the limits set by MPI each year.
Balance your catch
FishServe – a company that provides fisheries services on MPI's behalf – will send you a catch balance report every month (usually by email). This compares your reported catch for each fish stock, for the year so far, to your ACE.
If you don't have enough ACE to cover your catch, FishServe will send you an invoice for the deemed value. There are 2 types of deemed values – interim and annual.
If you owe more than $1,000, your fishing permit will be suspended until you pay the deemed value.
Deemed value rates
Deemed values are calculated using rates set by MPI. Check these spreadsheets to find the deemed value rates for different fish stocks. Note, fishing years start from February, April or October depending on the fish stock.
- February 2017 rates [XLSX, 19 KB]
- April 2017 rates [XLSX, 56 KB]
- [XLSX, 131 KB]October 2017 rates [XLSX, 127 KB]
- Pre-2016 rates
Who to contact
If you have questions about deemed values, contact FishServe