Taxation Administration Act 1953
SCHEDULE 1
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COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES
(a) penalties for trustees who fail to comply with the public ancillary fund guidelines or private ancillary fund guidelines (whichever are applicable), and the liability of directors of trustees to pay those penalties in certain circumstances; and
(b) powers for the Commissioner to suspend or remove trustees who breach their obligations.
Note: See section 3AA .
Chapter 5 - Administration
PART 5-35
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REGISTRATION AND SIMILAR PROCESSES FOR VARIOUS TAXES
Division 426
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Process of endorsing charities and other entities
Subdivision 426-D
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Public and private ancillary funds
Guide to Subdivision 426-D
SECTION 426-100
WHAT THIS SUBDIVISION IS ABOUT
This Subdivision deals with types of philanthropic trust funds known as public ancillary funds and private ancillary funds .
The Minister may make guidelines determining when ancillary funds are entitled to be endorsed as deductible gift recipients.
This Subdivision also provides for:
Public ancillary funds | |
426-102 | Public ancillary funds |
426-103 | Public ancillary fund guidelines |
426-104 | Australian Business Register must show public ancillary fund status |
Private ancillary funds | |
426-105 | Private ancillary funds |
426-110 | Private ancillary fund guidelines |
426-115 | Australian Business Register must show private ancillary fund status |
Administrative penalties | |
426-120 | Administrative penalties for trustees of ancillary funds |
Suspension and removal of trustees | |
426-125 | Suspension or removal of trustees |
426-130 | Commissioner to appoint acting trustee in cases of suspension or removal |
426-135 | Terms and conditions of appointment of acting trustee |
426-140 | Termination of appointment of acting trustee |
426-145 | Resignation of acting trustee |
426-150 | Property vesting orders |
426-155 | Powers of acting trustee |
426-160 | Commissioner may give directions to acting trustee |
426-165 | Property vested in acting trustee - former trustees ' obligations relating to books, identification of property and transfer of property |
Transfers between ancillary funds | |
426-170 | Ancillary funds must not provide funds to other ancillary funds |
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