Income Tax Assessment Act 1936

PART III - LIABILITY TO TAXATION  

Division 1AB - Certain State/Territory bodies exempt from income tax  

Subdivision A - 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.