Income Tax Assessment Act 1997
CHAPTER 2
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LIABILITY RULES OF GENERAL APPLICATION
PART 2-15
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NON-ASSESSABLE INCOME
Division 50
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Exempt entities
Subdivision 50-A
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Various exempt entities
SECTION 50-45
Sports, culture and recreation
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| Sports, culture, film and recreation | ||
| Item | Exempt entity | Special conditions |
| 9.1 | a society, association or club established for the encouragement of: | see section 50-70 |
| (a) animal racing; or | ||
| (b) art; or | ||
| (c) a game or sport; or | ||
| (d) literature; or | ||
| (e) music | ||
| . | ||
| 9.2 | a society, association or club established for musical purposes | see section 50-70 |
| . | ||
| 9.3 | ICC Business Corporation FZ-LLC | both of the following: |
| (a) the entity is a *wholly-owned subsidiary of International Cricket Council Limited; | ||
| (b) only amounts included as *ordinary income or *statutory income: | ||
| (i) on or after 1 July 2018; and | ||
| (ii) before 1 July 2023 | ||
| 9.4 | (Repealed by No 41 of 2011) |
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