A New Tax System (Goods and Services Tax) Act 1999

Chapter 4 - The special rules  

Part 4-6 - Special rules mainly about tax periods  

Note:

The special rules in this Part mainly modify the operation of Part 2-6 , but they may affect other Parts of Chapter 2 in minor ways.

Division 157 - Accounting basis of charities etc.  

157-5   Charities etc. choosing to account on a cash basis  

(1)  


An * endorsed charity , a * gift-deductible entity or a * government school may choose to * account on a cash basis , with effect from the first day of the tax period that the endorsed charity or entity chooses.

(2)  
(Repealed by No 169 of 2012)

(3)  
This section does not apply in relation to a * gift-deductible entity endorsed as a deductible gift recipient (within the meaning of the * ITAA 1997 ) under section 30-120 of the ITAA 1997, unless the entity is:


(a) an * endorsed charity ; or


(b) a * government school ; or


(c) a fund, authority or institution of a kind referred to in paragraph 30-125(1)(b) of the ITAA 1997.

Note:

This subsection excludes from this section certain (but not all) gift-deductible entities that are only endorsed for the operation of a fund, authority or institution.

(4)  
This section has effect despite section 29-40 (which is about choosing to account on a cash basis).


 

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.