Treasury Laws Amendment (Refining and Improving Our Tax System) Act 2023 (40 of 2023)

Schedule 3   DGR registers reform

Part 3   Cultural organisations

Income Tax Assessment Act 1997

16   Transitional

Cultural organisations with DGR endorsement

(1) Subitem (2) applies if, immediately before the commencement of this Part:

(a) an entity and the public fund it maintains are on the register of cultural organisations mentioned in section 30-295 of the Income Tax Assessment Act 1997; and

(b) the entity is endorsed as a deductible gift recipient for the operation of a fund, authority or institution under paragraph 30-120(b) of that Act in respect of the operation of the public fund.

(2) On and after the commencement of this Part:

(a) treat the entity as being endorsed as a deductible gift recipient under paragraph 30-120(a) of the Income Tax Assessment Act 1997 based on item 12.1.1 of the table in subsection 30-100(1) of that Act; and

(b) treat the public fund as being the entity's gift fund mentioned in section 30-130 of that Act, unless or until the entity establishes a replacement gift fund.

Cultural organisations seeking DGR endorsement

(3) Subitem (4) applies if, immediately before the commencement of this Part:

(a) an entity and the public fund it maintains are on the register of cultural organisations mentioned in section 30-295 of the Income Tax Assessment Act 1997; and

(b) the entity has applied under subsection 426-15(1) in Schedule 1 to the Taxation Administration Act 1953 for endorsement as a deductible gift recipient for the operation of a fund, authority or institution under paragraph 30-120(b) of the Income Tax Assessment Act 1997 in respect of the operation of the public fund; and

(c) the Commissioner has not given the applicant written notice that the Commissioner endorses or refuses to endorse the applicant.

(4) On and after the commencement of this Part:

(a) treat the application as an application for endorsement as a deductible gift recipient under paragraph 30-120(a) of the Income Tax Assessment Act 1997 based on item 12.1.1 of the table in subsection 30-100(1) of that Act; and

(b) treat the public fund as being the entity's gift fund mentioned in section 30-130 of that Act, unless or until the entity establishes a replacement gift fund.

Entities seeking entry on the register of cultural organisations

(5) Subitem (6) applies if, immediately before the commencement of this Part:

(a) an entity has submitted a request (however described) to the department administered by the Arts Minister seeking to be entered on the register of cultural organisations mentioned in section 30-295 of the Income Tax Assessment Act 1997; and

(b) the entity has not been notified by the department of the outcome of the request.

(6) On and after the commencement of this Part:

(a) treat the request as an application under subsection 426-15(1) in Schedule 1 to the Taxation Administration Act 1953 by the entity for endorsement as a deductible gift recipient under paragraph 30-120(a) of the Income Tax Assessment Act 1997 based on item 12.1.1 of the table in subsection 30-100(1) of that Act; and

(b) treat the application:

(i) as having been made on the commencement of this Part; and

(ii) as meeting the requirements set out in subsection 426-15(2) in Schedule 1 to the Taxation Administration Act 1953.