INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

SCHEDULE 2F - TRUST LOSSES AND OTHER DEDUCTIONS  

SECTION 272-90   FAMILY GROUP  
Funds

272-90(6)    
A fund, authority or institution in Australia that is:

(a) mentioned in any of the tables in subsection 78(4) or covered by paragraph 78(5)(a) ; or

(b) mentioned in item 1 or 2 of the table in section 30-15 of the Income Tax Assessment Act 1997 ;

is a member of the primary individual's family group in relation to the conferral or distribution if, assuming that a deduction were allowable under section 78 , or Division 30 of the Income Tax Assessment Act 1997 , in respect of the conferral or distribution, section 78A would not prevent any of the deduction being allowable.

Certain tax exempt bodies

272-90(7)    
An institution, hospital, trustee, society, association, club, or fund, all of whose income is exempt under:

(a) paragraph 23(e), (ea), (ec), (g) or (j) ; or

(b) section 50-5 , 50-10 or 50-20 , item 6.1 or 6.2 of the table in section 50-30 , or item 9.1 or 9.2 of the table in section 50-45 , of the Income Tax Assessment Act 1997 ;

is a member of the primary individual's family group in relation to the conferral or distribution if, assuming that a deduction were allowable under section 78 , or Division 30 of the Income Tax Assessment Act 1997 , in respect of the conferral or distribution, section 78A would not prevent any of the deduction being allowable.