Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) Act 2024 (52 of 2024)

Schedule 3   New class of deductible gift recipients

Part 1   Amendment of the Income Tax Assessment Act 1997

Income Tax Assessment Act 1997

5   Subsection 995-1(1)

Insert:

ancillary or community charity trust fund means:

(a) a *public ancillary fund; or

(b) a *private ancillary fund; or

(c) a *community charity trust.

applicable trust fund guidelines means:

(a) in relation to a *public ancillary fund - the *public ancillary fund guidelines; or

(b) in relation to a *private ancillary fund - the *private ancillary fund guidelines; or

(c) in relation to a *community charity trust - the *community charity trust guidelines.

community charity corporation has the meaning given by section 426-180 in Schedule 1 to the Taxation Administration Act 1953.

community charity corporation guidelines has the meaning given by section 426-185 in Schedule 1 to the Taxation Administration Act 1953.

community charity trust has the meaning given by section 426-117 in Schedule 1 to the Taxation Administration Act 1953.

community charity trust guidelines has the meaning given by section 426-118 in Schedule 1 to the Taxation Administration Act 1953.