A New Tax System (Tax Administration) Act 1999 (179 of 1999)

Schedule 7   Endorsement of deductible gift recipients

Income Tax Assessment Act 1997

6   At the end of Subdivision 30-A

Add:

30-17 Requirements for certain recipients

(1) This section sets out requirements to be met for you to be able to deduct a gift you make to a fund, authority or institution described in the column headed "Recipient" of item 1, 2 or 4 of the table in section 30-15. However, this section does not apply to:

(a) a fund, authority or institution that is mentioned by name in an item of a table in Subdivision 30-B; or

(b) a *prescribed private fund; or

(c) the Australiana Fund.

(2) The fund, authority or institution must:

(a) be an entity or *government entity that is endorsed under Subdivision 30-BA as a *deductible gift recipient; or

(b) in the case of a fund - either:

(i) be owned legally by an entity that is endorsed under Subdivision 30-BA as a *deductible gift recipient for the operation of the fund; or

(ii) be under the control of one or more persons who constitute a *government entity that is endorsed under Subdivision 30-BA as a *deductible gift recipient for the operation of the fund; or

(c) in the case of an authority or institution - be part of an entity or *government entity that is endorsed under Subdivision 30-BA as a *deductible gift recipient for the operation of the authority or institution.

Example: A public fund that is established and maintained for constructing a building to be used by a State school and is controlled by the principal of the school would be an example of a fund under the control of one or more persons who constitute a government entity that is endorsed as a deductible gift recipient for the operation of the fund, if the school were so endorsed.