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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 50-5  Charity, education and science  

 View history reference ITAA 36


Charity, education, science and religion
ItemExempt entitySpecial conditions
1.1registered charitysee sections 50-50 and 50-52
...........
1.2(Repealed by No 169 of 2012) 
...........
1.3scientific institutionsee section 50-55
...........
1.4public educational institutionsee section 50-55
...........
1.5(Repealed by No 169 of 2012) 
...........
 1.5A(Repealed by No 169 of 2012) 
...........
 1.5B(Repealed by No 169 of 2012) 
...........
1.6fund established to enable scientific research to be conducted by or in conjunction with a public university or public hospitalsee section 50-65
...........
1.7society, association or club established for the encouragement of sciencesee section 50-70
...........
1.8Global Carbon Capture and Storage Institute Ltdonly amounts included in assessable income:
(a) on or after 1 July 2009; and
(b) before 1 July 2013

Note 1:

Section 50-52 has the effect that certain charities are exempt from income tax only if they are endorsed under Subdivision 50-B.

Note 2:

Section 50-80 may affect which item a trust is covered by.

[CCH Note: No 75 of 2010, s 3 and Sch 5 item 11, will repeal table item 1.8, effective 1 January 2018.]


 



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