INCOME TAX ASSESSMENT ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-5 - RULES ABOUT DEDUCTIBILITY OF PARTICULAR KINDS OF AMOUNTS  

Division 30 - Gifts or contributions  

Subdivision 30-CA - Administrative requirements relating to ABNs  

Requirements

SECTION 30-229   Australian Business Register must show deductibility of gifts to deductible gift recipient  

30-229(1)  
If a * deductible gift recipient has an * ABN, the * Australian Business Registrar must enter in the * Australian Business Register in relation to the deductible gift recipient a statement that it is a deductible gift recipient for a specified period.

Note 1:

An entry (or lack of entry) of a statement required by this section does not affect whether you can deduct a gift to the fund, authority or institution.

Note 2:

This section will apply to all entities and government entities that are endorsed as deductible gift recipients under Subdivision 30-BA , because they must have ABNs to be endorsed. It will also apply to other entities described or named in Subdivision 30-A if they have ABNs.

30-229(2)  
If the * deductible gift recipient is a deductible gift recipient only because it is endorsed under Subdivision 30-BA as a deductible gift recipient for the operation of a fund, authority or institution, the statement must name the fund, authority or institution.

30-229(2A)  


If:


(a) the *deductible gift recipient is:


(i) a fund, authority or institution; or

(ii) a deductible gift recipient only because it is endorsed under Subdivision 30-BA as a deductible gift recipient for the operation of a fund, authority or institution; and


(b) the fund, authority or institution is covered by item 1, 2 or 4 of the table in section 30-15 ;

the statement must specify that the fund, authority or institution is covered by that item.

30-229(3)  
The * Australian Business Registrar may remove the statement from the * Australian Business Register after the end of the period.

30-229(4)  
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; or


(c) remove the statement from the Register and enter another statement in the Register under this section.

30-229(5)  
(Repealed by No 145 of 2010)


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