Australian Charities and Not-for-profits Commission (Consequential and Transitional) Act 2012 (169 of 2012)

Schedule 2   References to charities etc.

Part 2   Tax exempt entities

Income Tax Assessment Act 1997

33   Section 50-52

Repeal the section, substitute:

50-52 Special condition for items 1.1 and 4.1

(1) An entity covered by item 1.1 or 4.1 is not exempt from income tax unless the entity is endorsed as exempt from income tax under Subdivision 50-B.

(3) This section has effect despite all the other sections of this Subdivision.