Income Tax Assessment Act 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-5 - RULES ABOUT DEDUCTIBILITY OF PARTICULAR KINDS OF AMOUNTS  

Division 31 - Conservation covenants  

Operative provisions  

SECTION 31-10   Requirements for fund, authority or institution  

31-10(1)    
The fund, authority or institution:

(a) must be covered by an item in any of the tables in Subdivision 30-B and must meet any conditions set out in the relevant table item; or

(b) must be an * ancillary fund established under a will or instrument of trust solely for:

(i) the purpose of providing money, property or benefits to a fund, authority or institution mentioned in paragraph (a) and for any purposes set out in the item of the table in Subdivision 30-B that covers the fund, authority or institution; or

(ii) the establishment of such a fund, authority or institution.

31-10(2)    
If the fund, authority or institution is not listed specifically in Subdivision 30-B , it must also:

(a) be in Australia; and

(b) meet the requirements of section 30-17 (about the endorsement of deductible gift recipients).