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Edited version of private advice
Authorisation Number: 1052474819171
Date of advice: 11 December 2025
Ruling
Subject: Income tax exemption - encouragement of animal racing
Question
Will the Entity be exempt from income tax under section 50-1 of the Income Tax Assessment Act 1997 (ITAA 1997) as a society, association or club for the encouragement of animal racing pursuant to item 9.1(a) of the table in section 50-45 of the ITAA 1997?
Answer
Yes.
The Entity is a non-profit society, association or club established for the encouragement of animal racing. It is an entity covered by item 9.1(a) of the table in section 50-45 of the Income Tax Assessment Act 1997 (ITAA 1997). Your activities are not carried on for the profit or gain of your individual members as outlined in your constitution, and you are not a charity. Accordingly, its ordinary and statutory income is exempt from income tax pursuant to section 50-1 of the ITAA 1997.
This ruling applies for the following periods:
Year ending 30 June 202X
Year ending 30 June 202X
Year ending 30 June 202X
Year ending 30 June 202X
The scheme commenced on:
1 July 20XX
Relevant facts and circumstances
The Entity is a not for profit and is not a charity.
The Entity is located within Australia and pursues its objects at that location.
The Entity is governed by the Rules (governing document).
The objects of the Entity are set out in the Rules.
The Entity's Rules include:
• not for profit clauses,
• wind up, and dissolution of assets clauses prohibiting distribution to its members, and
• relevant membership clauses.
The Entity undertakes secondary activities which are incidental to the objects and purpose outlined in the Rules.
The Entity satisfies the ordinary meaning of a society, association or club.
The Entity provides activities for the encouragement of animal racing.
The Entity promotes activities for the encouragement of animal racing including the updating of facilities to complete the animal racing activities.
The Entity applies income and assets for the purposes of establishment.
Relevant legislative provisions
Income Tax Assessment Act 1997 Section 50-1
Income Tax Assessment Act 1997 Section 50-45
Income Tax Assessment Act 1997 Section 50-47
Income Tax Assessment Act 1997 Section 50-70
Income Tax Assessment Act 1997 Section 995-1
Australian Charities and Not-for-profits Commission Act 2012 Section 25.5
Charities Act 2013 Section 5
Charities Act 2013 Section 12
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