Tax Laws Amendment (2005 Measures No. 3) Act 2005 (63 of 2005)

Schedule 1   Philanthropy

Income Tax Assessment Act 1997

13   Paragraphs 50-60(c) and (d)

Repeal the paragraphs, substitute:

(c) distributes solely, and has at all times since 1 July 1997 distributed solely, to either or both of the following:

(i) a charitable fund, foundation or institution which, to the best of the trustee’s knowledge, is located in Australia and incurs its expenditure principally in Australia and pursues its charitable purposes solely in Australia;

(ii) a charitable fund, foundation or institution that, to the best of the trustee’s knowledge, meets the description and requirements in item 1 or 2 of the table in section 30-15.