Income Tax Assessment (1997 Act) Amendment (Income Tax Exemption) Regulations 2026

(F2026L00831)

26 June 2026

Income Tax Assessment Act 1997

1   Name

This instrument is the Income Tax Assessment (1997 Act) Amendment (Income Tax Exemption) Regulations 2026.

2   Commencement

 

(1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Note: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

      

(2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3   Authority

This instrument is made under the Income Tax Assessment Act 1997.

4   Schedules

Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1   Amendments

Income Tax Assessment (1997 Act) Regulations 2021

1   At the end of Subdivision 50A

Add:

50-70.01 Prescribed societies, associations or clubs located outside Australia for items 1.7, 2.1, 9.1 and 9.2 in Division 50 of the Act

For the purposes of paragraph 50-70(1)(c) of the Act, each society, association or club mentioned in an item in the following table is a prescribed society, association or club until the date specified (if any) in column 2 for the item.

2   In the appropriate position in Chapter 7

Insert:

Part 1000-10 - Transitional matters relating to the Income Tax Assessment (1997 Act) Amendment (Income Tax Exemption) Regulations 2026

1000-10.01 Application of amendments

The amendment made by Schedule 1 to the Income Tax Assessment (1997 Act) Amendment (Income Tax Exemption) Regulations 2026 applies to income derived on or after 1 July 2025.