Income Tax Assessment Act 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION

PART 2-15 - NON-ASSESSABLE INCOME

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Division 50 - Exempt entities

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Subdivision 50-B - Endorsing charitable entities as exempt from income tax

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Endorsing charitable entities as exempt from income tax

SECTION 50-110 Entitlement to endorsement

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General rule

50-110(1)
An entity is entitled to be endorsed as exempt from income tax if the entity meets all the relevant requirements of this section.

Which entities are entitled to be endorsed?

50-110(2)

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To be entitled, the entity must be an entity covered by item 1.1 of the table in section 50-5 .

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Requirement for ABN

50-110(3)
To be entitled, the entity must have an *ABN.

50-110(4)
(Repealed by No 169 of 2012)

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Requirement to meet special conditions

50-110(5)

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To be entitled:

(a) the entity must meet the relevant conditions referred to in the column headed " Special conditions " of item 1.1 of the table in section 50-5 ; or

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(b) both of the following conditions must be met:

(i) the entity must not have carried on any activities as a charity;

(ii) there must be reasonable grounds for believing that the entity will meet the relevant conditions referred to in the column headed " Special conditions " of item 1.1 of the table.

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(c) (Repealed by No 96 of 2013)

The entity must also satisfy section 50-47 , if the entity is an * ACNC type of entity.

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History

S 50-110(5) amended by No 96 of 2013, s 3 and Sch 1 item 33, by substituting para (a) and (b) for para (a) to (c), effective 1 January 2014. Paras (a) to (c) formerly read:

(a) the entity must meet the relevant conditions referred to in the column headed " Special conditions " of whichever of item 1.1 of the table in section 50-5 and item 4.1 of the table in section 50-20 covers the entity; or

(b) if item 1.1 of the table in section 50-5 covers the entity:

(i) the entity must not have carried on any activities as a charity; and

(ii) there must be reasonable grounds for believing that the entity will meet the relevant conditions referred to in the column headed " Special conditions " of item 1.1 of the table; or

(c) if the entity is covered by item 4.1 of the table in section 50-20 and has not made any distributions - there must be reasonable grounds for believing that the entity will satisfy section 50-72 .

S 50-110(5) amended by No 124 of 2013, s 3 and Sch 11 item 3, by inserting " The entity must also satisfy section 50-47, if the entity is an * ACNC type of entity. " , effective 3 December 2012.

S 50-110(5) amended by No 169 of 2012, s 3 and Sch 2 items 37 and 38, by substituting " item 1.1 " for " items 1.1, 1.5, 1.5A and 1.5B " in para (a) and substituting para (b), effective 3 December 2012. Para (b) formerly read:

(b) both of the following conditions must be met:

(i) the entity must not have carried on any activities as a charitable institution (if the entity is covered by item 1.1 of the table in section 50-5 ) or for public charitable purposes (if the entity is covered by item 1.5, 1.5A or 1.5B of that table);

(ii) there must be reasonable grounds for believing that the entity will meet the relevant conditions referred to in the column headed " Special conditions " of whichever of items 1.1, 1.5, 1.5A or 1.5B of the table in section 50-5 covers the entity; or

S 50-110(5) amended by No 63 of 2005.

50-110(6)
To avoid doubt, the condition set out in section 50-52 (requiring the entity to be endorsed under this Subdivision) is not a relevant condition for the purposes of subsection (5).

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