Treasury Laws Amendment (Refining and Improving Our Tax System) Act 2023 (40 of 2023)

Schedule 3   DGR registers reform

Part 1   Environmental organisations

Income Tax Assessment Act 1997

1   Subsection 30-55(1) (table)

Repeal the table, substitute:

The environment - General

     

Item

Fund, authority or institution

Special conditions - fund, authority or institution

Special conditions - gift

6.1.1

an institution or *Australian government agency whose principal purpose is:

(a) the protection and enhancement of the natural environment or of a significant aspect of the natural environment; or

(b) the provision of information or education, or the carrying on of research, about the natural environment or a significant aspect of the natural environment

the institution or Australian government agency must:

(a) if it is not an Australian government agency - be a *registered charity; and

(b) meet the requirements of section 30-130; and

(c) have a policy of not acting as a mere conduit for the donation of money or property to other organisations, bodies or persons

the gift must be received by the gift fund (mentioned in section 30-130) of the institution or Australian government agency