INCOME TAX ASSESSMENT ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-15 - NON-ASSESSABLE INCOME  

Division 50 - Exempt entities  

Subdivision 50-A - Various exempt entities  

SECTION 50-40   Primary and secondary resources, and tourism  



Primary and secondary resources, and tourism
Item Exempt entity Special conditions
8.1 a society or association established for the purpose of promoting the development of: not carried on for the profit or gain of its individual members
(a)   aviation; or
(b)   tourism
.
8.2 a society or association established for the purpose of promoting the development of any of the following Australian resources: not carried on for the profit or gain of its individual members
(a)   agricultural resources;
(b)   horticultural resources;
(c)   industrial resources;
(d)   manufacturing resources;
(e)   pastoral resources;
(f)   viticultural resources;
(g)   aquacultural resources;
(h)   fishing resources
.
8.3 a society or association established for the purpose of promoting the development of Australian information and communications technology resources not carried on for the profit or gain of its individual members
.
8.4 Global Infrastructure Hub Ltd only amounts included as *ordinary income or *statutory income:
(a) on or after 24 December 2014; and
(b) before 1 July 2019


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