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TAX LAWS AMENDMENT (SHIPPING REFORM) ACT 2012 (NO. 57, 2012) - NOTES

 

No. 57, 2012

 

 

 

 

 

  

  


Contents

1............ Short title............................................................................................. 1

2............ Commencement................................................................................... 2

3............ Schedule(s)......................................................................................... 2

Schedule 1--Exempt shipping income                                                                      3

Income Tax Assessment Act 1997                                                                              3

Schedule 2--Capital allowances                                                                                    7

Part 1--Statutory capped life                                                                                   7

Income Tax Assessment Act 1997                                                                              7

Part 2--Balancing adjustment events and roll-over relief                        10

Income Tax Assessment Act 1997                                                                            10

Schedule 3--Seafarer tax offset                                                                                  13

Income Tax Assessment Act 1997                                                                            13

Schedule 4--Exempting bareboat charters from royalty withholding tax             17

Income Tax Assessment Act 1936                                                                            17

Schedule 5--Shipping information                                                                           18

Taxation Administration Act 1953                                                                         18

 


 

 

Tax Laws Amendment (Shipping Reform) Act 2012

No. 57, 2012

 

 

 

An Act to amend the law relating to taxation, and for related purposes

[Assented to 21 June 2012]

The Parliament of Australia enacts:

 

[Minister's second reading speech made in--

House of Representatives on 22 March 2012

Senate on 18 June 2012]

(52/12)

 



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