SCHEDULE 1
-
COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES
History
Sch 1 inserted by No 178 of 1999 (as amended by No 179 of 1999 and No 44 of 2000).
Note: See section
3AA
.
Chapter 5
-
Administration
History
Ch 5 title inserted by
No 73 of 2006
, s 3 and Sch 5 item 44, effective 1 July 2006.
PART 5-35
-
REGISTRATION AND SIMILAR PROCESSES FOR VARIOUS TAXES
History
Part 5-35 inserted by No 95 of 2004. No 95 of 2004, s 3 and Sch 10 item 44, contains the following transitional provision:
44 Transitional
-
GST and FBT endorsements
(1)
This item applies in relation to an entity if:
(a)
immediately before 1 July 2005, the entity was endorsed under section
30-120
or section
50-105
of the
Income Tax Assessment Act 1997
; and
(b)
the entity failed to notify the Commissioner in writing before 1 July 2005 that it chose not to have this item apply to it.
(2)
The entity is taken to have made an application to the Commissioner under section
426-15
in Schedule 1 to the
Taxation Administration Act 1953
for whichever of these kinds of endorsement is most appropriate for the entity:
(a)
endorsement as a charitable institution under subsection
176-1(1)
of the
A New Tax System (Goods and Services Tax) Act 1999
;
(b)
endorsement as a trustee of a charitable fund under subsection
176-5(1)
of the
A New Tax System (Goods and Services Tax) Act 1999
.
(3)
The entity is taken to have made an application to the Commissioner under section 426-16 in Schedule 1 to the
Taxation Administration Act 1953
for whichever of these kinds of endorsement is most appropriate for the entity:
(a)
endorsement as a public benevolent institution under subsection
123C(1)
of the
Fringe Benefits Tax Assessment Act 1986
;
(b)
endorsement for the operation of a public benevolent institution under subsection
123C(3)
of the
Fringe Benefits Tax Assessment Act 1986
;
(c)
endorsement as a health promotion charity under subsection
123D(1)
of the
Fringe Benefits Tax Assessment Act 1986
;
(d)
endorsement under subsection
123E(1)
of the
Fringe Benefits Tax Assessment Act 1986
as a charitable institution covered by paragraph
65J(1)(baa)
of that Act.
Division 426
-
Process of endorsing charities and other entities
History
Div 426 inserted by No 95 of 2004. For transitional provision, see note under Part
5-35
heading.
Subdivision 426-D
-
Ancillary and community charity trust funds
History
Subdiv 426-D heading substituted by No 52 of 2024, s 3 and Sch 3 item 9, effective 29 June 2024. The heading formerly read:
Subdivision 426-D
-
Public and private ancillary funds
Subdiv 426-D heading substituted by No 147 of 2011, s 3 and Sch 8 item 12, effective 1 January 2012. For transitional provisions, see note under s 426-102. The heading formerly read:
Subdivision 426-D
-
Private ancillary funds
Subdiv 426-D inserted by No 88 of 2009, s 3 and Sch 2 item 22, effective 1 October 2009. No 88 of 2009, s 3 and Sch 2 items 25 to 31 contain the following transitional provisions:
Division 1
-
Preliminary
25 Definitions
25
In this Part:
commencement time
means the time at which this item commences.
[
CCH Note: Commencement was 1 October 2009.]
constitutional corporation
has the meaning given by the
Income Tax Assessment Act 1997
.
deductible gift recipient
has the meaning given by the
Income Tax Assessment Act 1997
.
prescribed private fund
has the meaning given by the
Income Tax Assessment Act 1997
(as in force just before the commencement time).
private ancillary fund
has the meaning given by section
426-105
in Schedule
1
to the
Taxation Administration Act 1953
.
private ancillary fund guidelines
has the meaning given by section
426-110
in Schedule
1
to the
Taxation Administration Act 1953
.
Division 2
-
Declared prescribed private funds
26 Transitional
-
prescribed private fund declarations
26(1)
The Minister may, by legislative instrument, declare a trust to be a prescribed private fund.
26(2)
Despite subsection
12(2)
of the
Legislative Instruments Act 2003
, the declaration has effect during the period:
(a)
starting at the time specified in the declaration, which must be before the commencement time; and
(b)
ending just before the commencement time.
Division 3
-
Transitional private ancillary funds
27 Application of Division
27
This Division applies to a trust if, just before the commencement time, the trust was a prescribed private fund (whether or not because of a declaration made under item 26).
28 Transitional
-
trustees need not be constitutional corporations
28
Paragraph
426-105(1)(a)
(trustees of private ancillary funds must be constitutional corporations) and sections
426-125
to
426-165
(Suspension and removal of trustees) in Schedule
1
to the
Taxation Administration Act 1953
do not apply to the trust during the period:
(a)
starting at the commencement time; and
(b)
ending at the earlier of the following:
(i)
the time (at or after the commencement time) the trust first satisfies the requirements of that paragraph (disregarding this item);
(ii)
the first time any of the trustees of the trust revoke the agreement mentioned in item 29 in accordance with subsection
426-105(2)
in that Schedule.
29 Transitional
-
agreement to comply with private ancillary fund guidelines
29(1)
For the purposes of Subdivision
426-D
in Schedule
1
to the
Taxation Administration Act 1953
, each of the trustees of the trust is taken to have agreed, at the commencement time and in accordance with paragraph
426-105(1)(b)
in that Schedule, to comply with the rules in the private ancillary fund guidelines, as in force from time to time.
29(2)
To avoid doubt, subitem (1) does not prevent a trustee from revoking that agreement at a later time as mentioned in paragraph
426-105(1)(c)
in that Schedule.
30 Transitional
-
endorsement as a deductible gift recipient
30(1)
The trust is taken to have been endorsed as a deductible gift recipient under section
30-120
of the
Income Tax Assessment Act 1997
at the commencement time.
30(2)
To avoid doubt, subitem (1) does not prevent the Commissioner from revoking that endorsement at a later time under section
426-55
in Schedule
1
to the
Taxation Administration Act 1953
.
31 Transitional
-
transfer of property
31
For the purposes of item 2 of the column headed
"
Recipient
"
of the table in subsection
30-15(2)
of the
Income Tax Assessment Act 1997
, disregard a transfer of all of the property of the trust to another private ancillary fund if:
(a)
the other fund is a deductible gift recipient; and
(b)
every trustee of the other fund is a constitutional corporation; and
(c)
the transfer happens during the period mentioned in item 28.
Suspension and removal of trustees
SECTION 426-125
SUSPENSION OR REMOVAL OF TRUSTEES
Suspension
426-125(1)
The Commissioner may suspend all of the trustees of an *ancillary or community charity trust fund if the Commissioner is satisfied that the fund, or any of the trustees of the fund, have breached:
(a)
the *applicable trust fund guidelines; or
(b)
any other *Australian law.
History
S 426-125(1) amended by No 52 of 2024, s 3 and Sch 3 items 16 and 17, by substituting
"
*ancillary or community charity trust fund
"
for
"
*ancillary fund
"
and para (a), effective 29 June 2024. Para (a) formerly read:
(a)
the *public ancillary fund guidelines or the *private ancillary fund guidelines (whichever are applicable); or
S 426-125(1) amended by No 147 of 2011, s 3 and Sch 8 items 23 and 24, by substituting
"
an *ancillary fund
"
for
"
a *private ancillary fund
"
and substituting para (a), effective 1 January 2012. For transitional provisions see note under s 426-102. Para (a) formerly read:
(a)
the *private ancillary fund guidelines; or
426-125(2)
The suspension of a trustee:
(a)
starts when the Commissioner gives the trustee notice of the suspension under subsection
(3)
; and
(b)
ends at the time specified in the notice.
426-125(3)
If the Commissioner decides to suspend a trustee under this section, the Commissioner must give to the trustee a written notice:
(a)
setting out the decision; and
(b)
giving the reasons for the decision; and
(c)
setting out the time the suspension ends.
Extension of suspensions
426-125(4)
The Commissioner may change the time the suspension of a trustee ends.
426-125(5)
If the Commissioner decides to change the time the suspension of a trustee ends under this section, the Commissioner must give to the trustee a written notice:
(a)
setting out the decision; and
(b)
giving the reasons for the decision; and
(c)
setting out the new time the suspension ends.
Removal
426-125(6)
The Commissioner may remove all of the trustees of an *ancillary or community charity trust fund if the Commissioner is satisfied that the fund, or any of the trustees of the fund, have breached:
(a)
the *applicable trust fund guidelines; or
(b)
any other *Australian law.
History
S 426-125(6) amended by No 52 of 2024, s 3 and Sch 3 items 18 and 19, by substituting
"
*ancillary or community charity trust fund
"
for
"
*ancillary fund
"
and para (a), effective 29 June 2024. Para (a) formerly read:
(a)
the *public ancillary fund guidelines or the *private ancillary fund guidelines (whichever are applicable); or
S 426-125(6) amended by No 147 of 2011, s 3 and Sch 8 items 25 and 26, by substituting
"
an *ancillary fund
"
for
"
a *private ancillary fund
"
and substituting para (a), effective 1 January 2012. For transitional provisions see note under s 426-102. Para (a) formerly read:
(a)
the *private ancillary fund guidelines; or
426-125(7)
If the Commissioner decides to remove a trustee under this section, the Commissioner must give to the trustee a written notice:
(a)
setting out the decision; and
(b)
giving the reasons for the decision.
Review of decisions under this section
426-125(8)
A trustee who is dissatisfied with any of the following decisions under this section may object in the manner set out in Part
IVC
of this Act:
(a)
a decision to suspend the trustee;
(b)
a decision to change the time a suspension of the trustee ends;
(c)
a decision to remove the trustee.
History
S 426-125 inserted by No 88 of 2009, s 3 and Sch 2 item 22, effective 1 October 2009. For transitional provisions, see note under Subdiv
426-D
heading.
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