Income Tax Act 2007 section 1001

Meaning of "offshore installation"

Section 1001 defines what counts as an "offshore installation" for income tax purposes, covering structures used in water for activities such as mineral exploitation, gas storage, and pipeline conveyance.

• An offshore installation is any structure (including ships and vessels) that is currently being, will be, or has been put to a "relevant use" while positioned in water.
• Relevant uses include exploiting or exploring for mineral resources via a well, storing or recovering gas under the shore or seabed, conveying things by pipe, or mainly housing workers engaged in those activities.
• A structure ceases to be an offshore installation if it has permanently stopped all relevant uses and has since been put to a non-relevant use.
• Being "in water" means standing or stationed in any waters by whatever means, or standing on foreshore or land that is intermittently covered by water.