Tax Laws Amendment (2006 Measures No. 7) Act 2007 (55 of 2007)

Schedule 3   Streamline gift fund and integrity arrangements for deductible gift recipients

Income Tax Assessment Act 1997

2   Paragraph 30-125(2)(d)

Repeal the paragraph, substitute:

(d) the entity meets the requirements of subsection (6), unless:

(i) the entity is established by an Act; and

(ii) the Act (or another Act) does not provide for the winding up or termination of the entity; and

(e) the entity meets the requirements of section 30-130, unless the entity is endorsed as a deductible gift recipient under paragraph 30-120(a).