Taxation Administration Act 1953
Sch 1 inserted by No 178 of 1999 (as amended by No 179 of 1999 and No 44 of 2000).
Note: See section 3AA .Chapter 5 - Administration
Ch 5 title inserted by No 73 of 2006 , s 3 and Sch 5 item 44, effective 1 July 2006.
Part 5-35 inserted by No 95 of 2004. No 95 of 2004, s 3 and Sch 10 item 44, contains the following transitional provision:
44 Transitional - GST and FBT endorsements
This item applies in relation to an entity if:
(a) immediately before 1 July 2005, the entity was endorsed under section 30-120 or section 50-105 of the Income Tax Assessment Act 1997 ; and
(b) the entity failed to notify the Commissioner in writing before 1 July 2005 that it chose not to have this item apply to it.
The entity is taken to have made an application to the Commissioner under section 426-15 in Schedule 1 to the Taxation Administration Act 1953 for whichever of these kinds of endorsement is most appropriate for the entity:
(a) endorsement as a charitable institution under subsection 176-1(1) of the A New Tax System (Goods and Services Tax) Act 1999 ;
(b) endorsement as a trustee of a charitable fund under subsection 176-5(1) of the A New Tax System (Goods and Services Tax) Act 1999 .
The entity is taken to have made an application to the Commissioner under section 426-16 in Schedule 1 to the Taxation Administration Act 1953 for whichever of these kinds of endorsement is most appropriate for the entity:
(a) endorsement as a public benevolent institution under subsection 123C(1) of the Fringe Benefits Tax Assessment Act 1986 ;
(b) endorsement for the operation of a public benevolent institution under subsection 123C(3) of the Fringe Benefits Tax Assessment Act 1986 ;
(c) endorsement as a health promotion charity under subsection 123D(1) of the Fringe Benefits Tax Assessment Act 1986 ;
(d) endorsement under subsection 123E(1) of the Fringe Benefits Tax Assessment Act 1986 as a charitable institution covered by paragraph 65J(1)(baa) of that Act.
Div 426 inserted by No 95 of 2004. For transitional provision, see note under Part 5-35 heading.
Subdiv 426-D heading substituted by No 147 of 2011, s 3 and Sch 8 item 12, effective 1 January 2012. For transitional provisions, see note under s 426-102. The heading formerly read:
Subdivision 426-D - Private ancillary funds
Subdiv 426-D inserted by No 88 of 2009, s 3 and Sch 2 item 22, effective 1 October 2009. No 88 of 2009, s 3 and Sch 2 items 25 to 31 contain the following transitional provisions:
Division 1 - Preliminary25 Definitions
In this Part:
means the time at which this item commences. [ CCH Note: Commencement was 1 October 2009.]
has the meaning given by the Income Tax Assessment Act 1997 .
deductible gift recipient
has the meaning given by the Income Tax Assessment Act 1997 .
prescribed private fund
has the meaning given by the Income Tax Assessment Act 1997 (as in force just before the commencement time).
Division 2 - Declared prescribed private funds26 Transitional - prescribed private fund declarations
The Minister may, by legislative instrument, declare a trust to be a prescribed private fund.
Despite subsection 12(2) of the Legislative Instruments Act 2003 , the declaration has effect during the period:
(a) starting at the time specified in the declaration, which must be before the commencement time; and
(b) ending just before the commencement time.
Division 3 - Transitional private ancillary funds27 Application of Division
This Division applies to a trust if, just before the commencement time, the trust was a prescribed private fund (whether or not because of a declaration made under item 26). 28 Transitional - trustees need not be constitutional corporations
Paragraph 426-105(1)(a) (trustees of private ancillary funds must be constitutional corporations) and sections 426-125 to 426-165 (Suspension and removal of trustees) in Schedule 1 to the Taxation Administration Act 1953 do not apply to the trust during the period:
(a) starting at the commencement time; and
(b) ending at the earlier of the following:
(i) the time (at or after the commencement time) the trust first satisfies the requirements of that paragraph (disregarding this item);29 Transitional - agreement to comply with private ancillary fund guidelines
(ii) the first time any of the trustees of the trust revoke the agreement mentioned in item 29 in accordance with subsection 426-105(2) in that Schedule.
For the purposes of Subdivision 426-D in Schedule 1 to the Taxation Administration Act 1953 , each of the trustees of the trust is taken to have agreed, at the commencement time and in accordance with paragraph 426-105(1)(b) in that Schedule, to comply with the rules in the private ancillary fund guidelines, as in force from time to time.
To avoid doubt, subitem (1) does not prevent a trustee from revoking that agreement at a later time as mentioned in paragraph 426-105(1)(c) in that Schedule. 30 Transitional - endorsement as a deductible gift recipient
The trust is taken to have been endorsed as a deductible gift recipient under section 30-120 of the Income Tax Assessment Act 1997 at the commencement time.
To avoid doubt, subitem (1) does not prevent the Commissioner from revoking that endorsement at a later time under section 426-55 in Schedule 1 to the Taxation Administration Act 1953 . 31 Transitional - transfer of property
For the purposes of item 2 of the column headed " Recipient " of the table in subsection 30-15(2) of the Income Tax Assessment Act 1997 , disregard a transfer of all of the property of the trust to another private ancillary fund if:
(a) the other fund is a deductible gift recipient; and
(b) every trustee of the other fund is a constitutional corporation; and
(c) the transfer happens during the period mentioned in item 28.
Subject to section 426-150 :
(a) the acting trustee has and may exercise all the rights, title and powers, and must perform all the functions and duties, of the original trustee or trustees; and
(b) the *ancillary fund ' s governing rules and every *Australian law apply in relation to the acting trustee as if the acting trustee were the trustee of the fund.
S 426-155 amended by No 147 of 2011, s 3 and Sch 8 item 32, by substituting " *ancillary fund ' s " for " *private ancillary fund ' s " in para (b), effective 1 January 2012. For transitional provisions see note under s 426-102.
S 426-155 inserted by No 88 of 2009, s 3 and Sch 2 item 22, effective 1 October 2009. For transitional provisions, see note under Subdiv 426-D heading.
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