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Shipping Reform (Tax Incentives) Act 2012
10Requirements for vessels
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#### 10 Requirements for vessels
(1) The requirements for the vessel are as follows:
(a) the tonnage requirement (see subsection (2) or (3));
(b) that the vessel is registered (within the meaning of the Shipping Registration Act 1981);
(c) that the vessel is not an excluded vessel.
(2) The tonnage requirement is met for the vessel if a tonnage certificate is in force for the vessel stating that the vessel has a gross tonnage of at least 500.
(3) The tonnage requirement is also met for the vessel if:
(a) a tonnage certificate is in force for the vessel stating that the vessel has a gross tonnage of at least 200 but less than 500; and
(b) the Minister is satisfied that during the income year the vessel has been, or will be, used wholly or mainly for carrying shipping cargo to, from or within regional or remote Australia.
Excluded vessels
(4) The following are excluded vessels:
(a) recreational vessels;
(b) fishing vessels and fishing fleet support vessels;
(c) offshore industry vessels;
(d) inland waterways vessels;
(e) salvage vessels;
(f) tugboats;
(g) vessels operating wholly or mainly within a harbour;
(h) vessels operating wholly or mainly from a stationary position;
(i) government vessels;
(j) vessels owned or operated by:
(i) the Australian Defence Force; or
(ii) the defence force of another country;
(k) vessels of a kind specified under paragraph (5)(a).
(5) The Minister may, by legislative instrument, specify:
(a) kinds of vessels that are to be excluded vessels; and
(b) kinds of vessels that are not to be excluded vessels.
Despite subsection (4), a vessel of a kind specified under paragraph (b) is not an excluded vessel.