Tax Laws Amendment (Shipping Reform) Act 2012 (57 of 2012)

Schedule 1   Exempt shipping income

Income Tax Assessment Act 1997

10   Subsection 995-1(1)

Insert:

shipping passenger has the same meaning as in the Shipping Reform (Tax Incentives) Act 2012.

Note: Because of paragraph 8(4)(b) of the Shipping Reform (Tax Incentives) Act 2012, the amendments made by this Schedule apply in relation to shipping activities that take place on or after 1 July 2012.