Deemed profits for shipping business: cruise ships excluded from the non-resident special computation regime, effective next assessment year. The Bill amends the special computation for shipping income so that the provision and its marginal heading expressly apply to ship operation businesses other than cruise shipping, inserting an exclusion in sub section (1) for cruise ships referred to in the separate cruise ship provision; the deemed profits mechanism for non resident ship operators otherwise remains unchanged and the amendment takes effect from the specified commencement date and applies to the relevant assessment year and subsequent years.
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Provisions expressly mentioned in the judgment/order text.
Deemed profits for shipping business: cruise ships excluded from the non-resident special computation regime, effective next assessment year.
The Bill amends the special computation for shipping income so that the provision and its marginal heading expressly apply to ship operation businesses other than cruise shipping, inserting an exclusion in sub section (1) for cruise ships referred to in the separate cruise ship provision; the deemed profits mechanism for non resident ship operators otherwise remains unchanged and the amendment takes effect from the specified commencement date and applies to the relevant assessment year and subsequent years.
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