Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-6 - THE IMPUTATION SYSTEM  

Division 207 - Effect of receiving a franked distribution  

Subdivision 207-E - Exceptions to the rules in Subdivision 207-D  

Exempt institutions

SECTION 207-115   Which exempt institutions are eligible for a refund?  

207-115(1)    
This section sets out the only circumstances in which an entity is an exempt institution that is eligible for a refund .

Income tax exempt charities

207-115(2)    
An entity is an exempt institution that is eligible for a refund if it:

(a)    

is covered by item 1.1 of the table in section 50-5 ; and

(b)    is endorsed as exempt from income tax under Subdivision 50-B ; and

(c)    satisfies the *residency requirement.

Income tax exempt deductible gift recipients

207-115(3)    
An entity is an exempt institution that is eligible for a refund if it:

(a)    is endorsed under paragraph 30-120(a) ; and

(b)    satisfies the *residency requirement.

Income tax exempt specified deductible gift recipients

207-115(4)    
An entity is an exempt institution that is eligible for a refund if:

(a)    the entity ' s name is specified in a table in a section in Subdivision 30-B ; and

(b)    it has an ABN; and

(c)    

it satisfies the *residency requirement.

207-115(5)    
(Repealed by No 40 of 2023)

Income tax exempt subsidiaries of the Future Fund Board

207-115(5A)    

An entity is an exempt institution that is eligible for a refund if it is covered by item 5.4 of the table in section 50-25 .

Prescribed income tax exempt entities

207-115(6)    
An entity is an exempt institution that is eligible for a refund if the entity is prescribed as an exempt institution that is eligible for a refund by the regulations.

207-115(7)    
This section has effect subject to sections 207-119 to 207-136 .