Document ID: chunk:federal_register_of_legislation:C2024C00633:section:4
Version: federal_register_of_legislation:C2024C00633
Segment Type: section
Provision Reference: s 4
Character Range: 3509–4103

4  Simplified outline
  The following is a simplified outline of this Act:

         • A corporation that is issued a certificate under Part 2 for a vessel for an income year can be eligible for tax incentives under the Income Tax Assessment Act 1997 for the income year.
         • The corporation can maximise the tax incentives for the first income year for the vessel by applying during that year for a notice under Part 3.
Note: The tax incentives are set out in subsections 40‑102(4) and 40‑285(5), sections 40‑362 and 51‑100 and Subdivision 61‑N of the Income Tax Assessment Act 1997.