Private ruling: Income tax exempt status
Date of advice: 10 July 2024
Published: 19 August 2024
Ruling period: 1 July 2023 to 30 June 2024 | 1 July 2024 to 30 June 2025 | 1 July 2025 to 30 June 2026 | 1 July 2026 to 30 June 2027 | 1 July 2027 to 30 June 2028
Date scheme commenced: 1 July 2023

Ruling: Q1: Is the total ordinary and statutory income of the entity exempt from income tax, in accordance with section 50-1 of the ITAA 1997 as a society, association or club established for the encouragement of a game or sport under item 9.1(c) of the table in section 50-45 of ITAA 1997? | A1: Yes.

Relevant facts and circumstances: The applicant is a sporting organisation.

Relevant legislative provisions: Income Tax Assessment Act 1997 section 50-1 | Income Tax Assessment Act 1997 section 50-45 | Income Tax Assessment Act 1997 section 50-47 | Income Tax Assessment Act 1997 section 50-70

Reasons for decision: Summary: The sporting organisation satisfied all requirements to be considered an entity exempt from income tax, in accordance with section 50-1 of the ITAA 1997 as a society, association or club established for the encouragement of a game or sport under item 9.1(c) of the table in section 50-45 of ITAA 1997.