Income Tax Assessment Act 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-15 - NON-ASSESSABLE INCOME  

Division 50 - Exempt entities  

Subdivision 50-A - Various exempt entities  

SECTION 50-25   Government  

Government
Item	Exempt entity	Special conditions
5.1	(a)   a municipal corporation; or	none
(b)   a *local governing body
.
5.2	a public authority constituted under an *Australian law	none
.
5.3	a *constitutionally protected fund	none

Note:

The ordinary and statutory income of a State or Territory body is exempt: see Division 1AB of Part III of the Income Tax Assessment Act 1936 .