Income Tax Assessment Act 1997

Pt 2-15 (heading) substituted by No 66 of 2003.

Pt 2-15 inserted by No 121 of 1997.

Div 50 inserted by No 121 of 1997.

S 50-57 repealed by No 169 of 2012, s 3 and Sch 2 item 34, effective 3 December 2012. S 50-57 formerly read:

SECTION 50-57 Special condition for item 1.5  
50-57
A fund covered by item 1.5 is not exempt from income tax unless the fund is applied for the purpose for which it was established.

Note:

The fund must also meet another condition to be exempt from income tax: see section 50-52 .

S 50-57 inserted by No 179 of 1999.