Income Tax Assessment Act 1997
CHAPTER 2
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LIABILITY RULES OF GENERAL APPLICATION
PART 2-5
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RULES ABOUT DEDUCTIBILITY OF PARTICULAR KINDS OF AMOUNTS
Division 30
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Gifts or contributions
Subdivision 30-E
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Register of environmental organisations
Operative provisions
SECTION 30-270
Other requirements it must satisfy
No payment of profits to its members
30-270(1)
It must not pay any of its profits or financial surplus, or give any of its property, to its members, beneficiaries, controllers or owners (as appropriate). No acting as a conduit 30-270(2)
It must have a policy of not acting as a mere conduit for the donation of money or property to other organisations, bodies or persons. Surplus assets to be transferred on winding up 30-270(3)
It must have rules providing that, if the public fund is wound up, any surplus assets of the fund are to be transferred to another fund that is on the register. Statistical information to be provided 30-270(4)
It must have agreed to give the *Environment Secretary, within a reasonable period after the end of each income year, statistical information about gifts made to the public fund during that income year.
View history note
Hide history note[ CCH Note: Subdiv E will be repealed by No 40 of 2023, s 3 and Sch 3 item 4, effective 1 January 2024. For transitional provision, see note under s 30-55(1) .]
It must not pay any of its profits or financial surplus, or give any of its property, to its members, beneficiaries, controllers or owners (as appropriate). No acting as a conduit 30-270(2)
It must have a policy of not acting as a mere conduit for the donation of money or property to other organisations, bodies or persons. Surplus assets to be transferred on winding up 30-270(3)
It must have rules providing that, if the public fund is wound up, any surplus assets of the fund are to be transferred to another fund that is on the register. Statistical information to be provided 30-270(4)
It must have agreed to give the *Environment Secretary, within a reasonable period after the end of each income year, statistical information about gifts made to the public fund during that income year.
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