Tax Laws Amendment (2013 Measures No. 2) Act 2013 (124 of 2013)

Schedule 11  

Part 5   Other amendments

Income Tax Assessment Act 1997

45   At the end of section 50-55

Add:

(2) The entity must:

(a) comply with all the substantive requirements in its governing rules; and

(b) apply its income and assets solely for the purpose for which the entity is established.