Treasury Laws Amendment (2021 Measures No. 2) Act 2021 (110 of 2021)

Schedule 1   Deductible gift recipients

Part 2   Application and transitional provisions

15   Transitional - new applicants

(1) This item applies if, immediately before the application date:

(a) either:

(i) a fund, authority or institution had made an application under section 426-15 in Schedule 1 to the Taxation Administration Act 1953 for endorsement as a deductible gift recipient; or

(ii) another entity made an application under that section for endorsement as a deductible gift recipient for the operation of the fund, authority or institution; and

(b) the Commissioner had not decided the application.

(2) The amendments made by this Schedule do not apply in relation to the fund, authority or institution during the period that:

(a) starts on the application date; and

(b) ends on the earliest of:

(i) if the application mentioned in subitem (1) is refused - the day on which notice is given of the refusal under section 426-25 in Schedule 1 to the Taxation Administration Act 1953; and

(ii) if the fund, authority or institution does not have an extended application date - the transitional application date; and

(iii) if the fund, authority or institution has an extended application date - the extended application date.

Note: If an application is refused it will be for a reason other than the amendments made by this Schedule. This is because this subitem disapplies the amendments to the Commissioner's determination of eligibility for endorsement.