TAXATION ADMINISTRATION ACT 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

Note: See section 3AA .

Chapter 5 - Administration  

PART 5-35 - REGISTRATION AND SIMILAR PROCESSES FOR VARIOUS TAXES  

Division 426 - Process of endorsing charities and other entities  

Subdivision 426-D - Public and private ancillary funds  

Private ancillary funds

SECTION 426-115   AUSTRALIAN BUSINESS REGISTER MUST SHOW PRIVATE ANCILLARY FUND STATUS  

426-115(1)  


If a *private ancillary fund has an *ABN, the *Australian Business Registrar must enter in the *Australian Business Register in relation to the fund a statement that it is a private ancillary fund.
Note 1:

An entry (or lack of entry) of a statement required by this section does not affect whether a trust is a private ancillary fund.

Note 2:

The Australian Business Register will also show if a private ancillary fund is endorsed as a deductible gift recipient: see section 30-229 of the Income Tax Assessment Act 1997 .

426-115(2)  
The *Australian Business Registrar must take reasonable steps to ensure that a statement appearing in the *Australian Business Register under this section is true. For this purpose, the Registrar may:


(a) change the statement; or


(b) remove the statement from the Register if the statement is not true.




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