Income Tax Assessment Act 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-15 - NON-ASSESSABLE INCOME  

Division 50 - Exempt entities  

Subdivision 50-B - Endorsing charitable entities as exempt from income tax  

Endorsing charitable entities as exempt from income tax

SECTION 50-110   Entitlement to endorsement  

General rule

50-110(1)  
An entity is entitled to be endorsed as exempt from income tax if the entity meets all the relevant requirements of this section. Which entities are entitled to be endorsed?

50-110(2)  


To be entitled, the entity must be an entity covered by item 1.1 of the table in section 50-5 . Requirement for ABN

50-110(3)  
To be entitled, the entity must have an *ABN.

50-110(4)  
(Repealed by No 169 of 2012)

Requirement to meet special conditions

50-110(5)  


To be entitled:


(a) the entity must meet the relevant conditions referred to in the column headed " Special conditions " of item 1.1 of the table in section 50-5 ; or


(b) both of the following conditions must be met:


(i) the entity must not have carried on any activities as a charity;

(ii) there must be reasonable grounds for believing that the entity will meet the relevant conditions referred to in the column headed " Special conditions " of item 1.1 of the table.


(c) (Repealed by No 96 of 2013)

The entity must also satisfy section 50-47 , if the entity is an * ACNC type of entity.

50-110(6)  
To avoid doubt, the condition set out in section 50-52 (requiring the entity to be endorsed under this Subdivision) is not a relevant condition for the purposes of subsection (5).


 

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