Document ID: chunk:federal_register_of_legislation:C2012A00057:clause:4_1
Version: federal_register_of_legislation:C2012A00057
Segment Type: clause
Provision Reference: sch 4 cl 1
Character Range: 19821–20542

1  At the end of subsection 128B(3)
Add:
 ; or (m) income that consists of a royalty that is paid to the non‑resident by a person (the lessee) as consideration for the lease, by the lessee from the non‑resident, of a vessel if:
 (i) the lessee is an Australian resident company; and
 (ii) the vessel is not an excluded vessel (within the meaning of the Shipping Reform (Tax Incentives) Act 2012); and
 (iii) under the lease, the lessee has whole possession and control of the vessel (including the right to appoint the master and crew of the ship); and
 (iv) during the period of the lease, the vessel is used, or is available for use, as mentioned in paragraph 8(1)(c) of the Shipping Reform (Tax Incentives) Act 2012.