Income Tax (Transitional Provisions) Act 1997



Division 50 - Exempt entities  

SECTION 50-50   50-50   Charities established prior to 1 July 1997  

Disregard the use of the following amounts in determining (for the purposes of Subdivision 50-A of the Income Tax Assessment Act 1997 ) whether a fund established before 1 July 1997 operates and pursues its purposes in Australia:

(a) an amount received by the entity before 1 July 1997;

(b) an amount derived from an amount mentioned in paragraph (a) or this paragraph.


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