Clause 35

In the principal Act, after the Eleventh Schedule, insert —“TWELFTH SCHEDULESections 34K(2) and 106(1) and (3)Net tonnage basis of taxationNet Tonnage of qualifying shipIncome for each day of the basis period that the qualifying ship is used by the MSI recipient to derive qualifying income Ship (other than green ship)Green shipFirst 1,000 net tons (NT)$0.90 for each 100 NT*$0.60 for each 100 NT*First 1,000 NTNext 9,000 NT$9$0.60 for each 100 NT*$6$0.30 for each 100 NT*First 10,000 NTIn excess of 10,000 NT$63$0.30 for each 100 NT*$33$0.30 for each 100 NT**Applied for each 100 NT rounded down to the nearest 100 NT.Note:A green ship is a ship that —