Private ruling: Income tax exempt - promoting the development of industrial resources
Date of advice: 24 July 2020
Published: August 2020
Ruling period: Year ended 30 June 20XX | Year ended 30 June 20XX | Year ended 30 June 20XX | Year ended 30 June 20XX | Year ended 30 June 20XX
Date scheme commenced: 1 July 20XX

Ruling: Q1: Will you continue to be exempt under section 50-1 of the Income Tax Assessment Act 1997 (ITAA 1997) as an association established for the purpose of promoting the development of Australian Industrial resources pursuant to item 8.2(c) of section 50-40 of the ITAA 1997? | A1: Yes

Relevant facts and circumstances: You have previously received a private ruling, authorisation number XXXXXXXXXXXXX on this arrangement. The relevant facts remain the same.

Relevant legislative provisions: Income Tax Assessment Act 1997 section 50-1 | Income Tax Assessment Act 1997 section 50-40

Reasons for decision: Summary: While these reasons are not part of the private ruling, we provide them to help you to understand how we reached our decision. The relevant facts, the law and the Commissioner's view have not changed since the issue of private ruling authorisation number XXXXXXXXXXXXX. Therefore, the reasons for decision are the same as those contained in private ruling authorisation number XXXXXXXXXXXXX.