Income Tax Assessment Act 1997

SECTION 50-52 Special condition for items 1.1, 1.5, 1.5A, 1.5B and 4.1
50-52(1)
An entity covered by item 1.1, 1.5, 1.5A, 1.5B or 4.1 is not exempt from income tax unless the entity is endorsed as exempt from income tax under Subdivision 50-B .
Note:

The entity will not be exempt from income tax unless it also meets other conditions: see section 50-50 (for an entity covered by item 1.1), 50-57 (for an entity covered by item 1.5), 50-60 (for an entity covered by item 1.5A or 1.5B) or section 50-72 (for an entity covered by item 4.1).

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History

S 50-52(1) amended by No 63 of 2005.

50-52(2)
(Repealed by No 95 of 2004)

50-52(3)
This section has effect despite all the other sections of this Subdivision.
Note:

This means that an entity covered both by an item other than 1.1, 1.5, 1.5A, 1.5B or 4.1 and by one of those items is not exempt from income tax unless the entity is endorsed under Subdivision 50-B as exempt from income tax and the entity meets the requirements of whichever of sections 50-50 , 50-57 , 50-60 and 50-72 is relevant.

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History

S 50-52(3) amended by No 63 of 2005 and No 95 of 2004.

S 50-52 inserted by No 179 of 1999.

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