Treasury Laws Amendment (Refining and Improving Our Tax System) Act 2023 (40 of 2023)
Schedule 3 DGR registers reform
Part 3 Cultural organisations
Income Tax Assessment Act 1997
12 Subsection 30-100(1) (table item 12.1.1)
Repeal the item, substitute:
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12.1.1 |
an institution or *Australian government agency whose principal purpose is the promotion of literature, music, a performing art, a visual art, a craft, design, film, video, television, radio, community arts, arts or languages of *Indigenous persons or movable cultural heritage |
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 |
the gift must be received by the gift fund (mentioned in section 30-130) of the institution or Australian government agency |