Australian Charities and Not-for-profits Commission (Consequential and Transitional) Act 2012 (169 of 2012)
Schedule 2 References to charities etc.
Part 1 Deductible gift recipients
Income Tax Assessment Act 1997
8 Subsection 30-40(1) (table)
Repeal the table, substitute:
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Research - General |
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Item |
Fund, authority or institution |
Special conditions - fund, authority or institution |
Special conditions - gift |
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3.1.1 |
a university, college, institute, association or organisation which is an approved research institute for the purposes of section 73A (Expenditure on scientific research) of the Income Tax Assessment Act 1936 |
the approved research institute must: (a) be registered under the Australian Charities and Not-for-profits Commission Act 2012; or (b) not be an *ACNC type of entity |
the gift must be made for purposes of scientific research in the field of natural or applied science |