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INCOME TAX ASSESSMENT ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-15 - NON-ASSESSABLE INCOME    View history reference

Division 50 - Exempt entities    View history reference

Subdivision 50-A - Various exempt entities    View history reference

SECTION 50-40  Primary and secondary resources, and tourism  

 View history reference ITAA 36

Primary and secondary resources, and tourism
ItemExempt entitySpecial conditions
8.1a society or association established for the purpose of promoting the development of:not carried on for the profit or gain of its individual members
 (a)   aviation; or 
 (b)   tourism 
.......... .
8.2a society or association established for the purpose of promoting the development of any of the following Australian resources:not carried on for the profit or gain of its individual members
 (a)   agricultural resources; 
 (b)   horticultural resources; 
 (c)   industrial resources; 
 (d)   manufacturing resources; 
 (e)   pastoral resources; 
 (f)   viticultural resources; 
 (g)   aquacultural resources; 
 (h)   fishing resources 
.......... .
8.3a society or association established for the purpose of promoting the development of Australian information and communications technology resourcesnot carried on for the profit or gain of its individual members
.......... .
8.4Global Infrastructure Hub Ltdonly amounts included in assessable income:
(a) on or after 24 December 2014; and
(b) before 1 July 2019

[ CCH Note: S 50-40 will be amended by No 70 of 2015, s 3 and Sch 4 item 4, by repealing table item 8.4, effective 1 July 2021.]


 



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