Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) Act 2024 (52 of 2024)

Schedule 3   New class of deductible gift recipients

Part 2   Amendment of the Taxation Administration Act 1953

Taxation Administration Act 1953

33   Section 426-170 in Schedule 1

Repeal the section, substitute:

426-170 Limitation on ancillary and community charity trust funds making certain transfers

(1) An *ancillary fund must not provide money, property or benefits to another ancillary fund unless permitted to do so by the *public ancillary fund guidelines or the *private ancillary fund guidelines (whichever are applicable) for the first-mentioned fund.

(2) A *community charity trust must not provide money, property or benefits to:

(a) another community charity trust; or

(b) an *ancillary fund; or

(c) a *community charity corporation;

unless permitted to do so by the *community charity trust guidelines.