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Edited version of your written advice
Authorisation Number: 1051282482774
Date of advice: 14 September 2017
Subject: Income tax exemption
The Commissioner advised that the trusts are STB’s (State/Territory Body) under section 24AS of the Income Tax Assessment Act 1936 (ITAA 1936) and that the trustees of the trusts are STBs under section 24AO of the ITAA 1936 and that none of the trusts and trustees are an excluded STB under section 24AT of the ITAA 1936. Therefore, the income of the trusts and of the trustees is exempt from income tax pursuant to Division 1AB of the ITAA 1936.