Income Tax Assessment Act 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-15 - NON-ASSESSABLE INCOME  

Division 50 - Exempt entities  

Subdivision 50-A - Various exempt entities  

SECTION 50-40   Primary and secondary resources, and tourism  



Primary and secondary resources, and tourism
Item Exempt entity Special conditions
8.1 a society or association established for the purpose of promoting the development of: not carried on for the profit or gain of its individual members
  (a)   aviation; or  
  (b)   tourism  
.
8.2 a society or association established for the purpose of promoting the development of any of the following Australian resources: not carried on for the profit or gain of its individual members
  (a)   agricultural resources;  
  (b)   horticultural resources;  
  (c)   industrial resources;  
  (d)   manufacturing resources;  
  (e)   pastoral resources;  
  (f)   viticultural resources;  
  (g)   aquacultural resources;  
  (h)   fishing resources  
.
8.3 a society or association established for the purpose of promoting the development of Australian information and communications technology resources not carried on for the profit or gain of its individual members
.
8.4 Global Infrastructure Hub Ltd only amounts included as *ordinary income or *statutory income:
(a) on or after 24 December 2014; and
(b) before 1 July 2024


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