House of Representatives
Tax Laws Amendment (Shipping Reform) Bill 2012
Explanatory Memorandum
(Circulated by the authority of the Deputy Prime Minister and Treasurer, the Hon Wayne Swan MP)Index
Schedule 1: Exempt shipping income
| Bill reference | Paragraph number |
| Item 1, section 11-15 (after the item in the table headed 'resale royalty collecting societies') | 2.52 |
| Item 2, subsection 36-10(5) | 2.49 |
| Item 3, subsection 36-17(4A) | 2.50 |
| Item 4, subsection 51-100(1) | 2.28 |
| Item 4, paragraph 51-100(1)(a) | 2.21 |
| Item 4, paragraph 51-100(1)(b) and associated note | 2.41 |
| Item 4, subsection 51-100(2) | 2.37, 2.38, 2.39, 2.42, 2.43, 2.45 |
| Item 4, section 51-105 | 2.25 |
| Item 4, subsection 51-110(2) | 2.30 |
| Item 4, paragraph 51-110(2)(r) | 2.31 |
| Item 4, subsection 51-110(3) | 2.32 |
| Item 4, section 51-115 | 2.35 |
| Item 5, definition of 'core shipping activities' in subsection 995-1(1) | 2.34 |
| Item 6, definition of 'incidental shipping activities' in subsection 995-1(1) | 2.36 |
| Item 7, definition of 'shipping activities' in subsection 995-1(1) | 2.27 |
| Items 8 and 10, definitions of 'shipping cargo' and 'shipping passenger' in subsection 995-1(1) | 2.29 |
| Item 9, definition of 'shipping exempt income certificate' in subsection 995-1(1) | 2.24 |
Schedule 2: Capital allowances
| Bill reference | Paragraph number |
| Items 1 and 2, subsection 40-70(1) | 3.39 |
| Item 3, paragraph 40-75(2)(d) | 3.29 |
| Item 4, item 10 in the table in subsection 40-102(4) | 3.10, 3.18 |
| Item 5, subsection 40-102(4A) | 3.21 |
| Item 6, subsection 40-103(1) | 3.27 |
| Item 6, subsection 40-103(2) | 3.28, 3.33, 3.34 |
| Item 6, paragraphs 40-103(2)(a) and (b) | 3.35 |
| Item 7, definition of 'effective life' in subsection 995-1(1) | 3.42 |
| Item 8, definition of 'remaining effective life' in subsection 995-1(1) | 3.43 |
| Item 10, note to section 40-175 | 4.27 |
| Item 11, note to new subsection 40-285(5) | 4.16 |
| Item 11, paragraph 40-285(5)(a) | 4.13 |
| Item 11, paragraph 40-285(5)(b) | 4.14 |
| Item 12, section 40-362 | 4.12 |
| Item 12, paragraphs 40-362(1)(a) to (d) | 4.19 |
| Item 12, paragraphs 40-362(1)(b) and (d) | 4.21 |
| Item 12, paragraph 40-362(1)(e) | 4.20 |
| Item 12, subsection 40-362(2) | 4.17 |
| Item 12, paragraph 40-362(2)(b) | 4.18 |
| Item 12, paragraph 40-362(3)(a) | 4.22 |
| Item 12, paragraph 40-362(3)(b) | 4.24 |
| Item 12, paragraph 40-362(3)(c) | 4.26 |
| Item 12, subsection 40-362(4) | 4.25 |
| Item 13, subsection 104-235(1AA) | 4.31 |
| Subitem 9(1) | 3.41 |
| Subitems 9(1) and (2) | 3.40 |
Schedule 3: Seafarer tax offset
| Bill reference | Paragraph number |
| Item 1, section 13-1 | 5.5 |
| Item 2, section 61-695 | 5.7 |
| Item 2, section 61-700 | 5.8 |
| Item 2, subsection 61-705(1) | 5.10 |
| Item 2, paragraph 61-705(1)(b) | 5.13 |
| Item 2, note in subsection 61-705(2) | 5.25 |
| Item 2, paragraph 61-705(2)(a) | 5.12, 5.15 |
| Item 2, paragraph 61-705(2)(b) | 5.15 |
| Item 2, paragraph 61-705(2)(c) | 5.15 |
| Item 2, paragraph 61-705(2)(c) and note 1 in subsection 61-705(2) | 5.19 |
| Item 2, paragraph 61-705(2)(d) | 5.16, 5.17 |
| Item 2, section 61-710 | 5.20, 5.21 |
| Item 3, section 67-23 | 5.6 |
Schedule 4: Exempting bareboat charters from royalty withholding tax
| Bill reference | Paragraph number |
| Item 1, paragraph 128B(3)(m) | 6.13 |
| Item 1, subparagraphs 128B(3)(m)(i) to (iv) | 6.13 |
| Item 2 | 6.11, 6.18 |
Schedule 5: Shipping information
| Bill reference | Paragraph number |
| Item 1, item 6A in the table in subsection 355-65(4) in Schedule 1 to the TAA 1953 | 2.54 |
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