Income Tax Assessment Act 1936
PART III
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LIABILITY TO TAXATION
Division 1AB
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Certain State/Territory bodies exempt from income tax
A body is an STB if:
(a) it is established by State or Territory legislation; and
(b) it is not a company limited solely by shares; and
(c) the legislation gives the power to appoint or dismiss its governing person or body only to one or more government entities.
Subdivision A
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Exemption for certain State/Territory bodies
SECTION 24AQ
24AQ
THIRD WAY IN WHICH A BODY CAN BE AN STB
A body is an STB if:
(a) it is established by State or Territory legislation; and
(b) it is not a company limited solely by shares; and
(c) the legislation gives the power to appoint or dismiss its governing person or body only to one or more government entities.
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