Document ID: chunk:federal_register_of_legislation:C2012A00057:clause:2_5
Version: federal_register_of_legislation:C2012A00057
Segment Type: clause
Provision Reference: sch 2 cl 5
Character Range: 7177–7639

5  After subsection 40‑102(4)
Insert:
 (4A) Item 10 of the table in subsection 40‑102(4) does not apply to a vessel if:
 (a) *ordinary income that you *derive, or your *statutory income, in relation to the vessel; or
 (b) ordinary income that your *associate derives, or your associate's statutory income, in relation to the vessel;
is exempt from income tax under section 51‑100 for the income year for which you are working out the vessel's decline in value.