Income Tax Assessment Act 1997
CHAPTER 2
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LIABILITY RULES OF GENERAL APPLICATION
PART 2-15
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NON-ASSESSABLE INCOME
Division 50
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Exempt entities
Subdivision 50-A
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Various exempt entities
SECTION 50-15
Employees and employers
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| Employees and employers | ||||
| Item | Exempt entity | Special conditions | ||
| 3.1 | (a) | employee association; or | the association: | |
| (b) | employer association | (a) | is registered or recognised under the Fair Work (Registered Organisations) Act 2009 or an *Australian law relating to the settlement of industrial disputes; and | |
| (b) | is located in Australia, and incurs its expenditure and pursues its objectives principally in Australia; and | |||
| (c) | complies with all the substantive requirements in its governing rules; and | |||
| (d) | applies its income and assets solely for the purpose for which the association is established | |||
| . | ||||
| 3.2 | trade union | the trade union: | ||
| (a) | is located in Australia, and incurs its expenditure and pursues its objectives principally in Australia; and | |||
| (b) | complies with all the substantive requirements in its governing rules; and | |||
| (c) | applies its income and assets solely for the purpose for which the trade union is established |
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