Private ruling: Income tax exempt - public ancillary fund
Date of advice: 1 May 2020
Published: June 2020
Ruling period: Year ended 30 June 2020 | Year ended 30 June 2021
Date scheme commenced: 17 March 2020

Ruling: Q1: Will a distribution of money from the public ancillary fund (the Fund) be a permissible distribution? | A1: Yes | Q2: If the answer to question one is yes, will such distribution of money form part of the Fund's minimum annual distribution for the purpose of Guideline 19 of the Public Ancillary Fund Guidelines 2011 (as amended)? | A2: Yes

Relevant facts and circumstances: This ruling is based on the facts stated in the description of the scheme that is set out below. If your circumstances are materially different from these facts, this ruling has no effect and you cannot rely on it. The fact sheet has more information about relying on your private ruling. The Fund is a public ancillary fund that intends to make a distribution to an appeal established by an entity that is a deductible gift recipient (DGR).

Relevant legislative provisions: Taxation Administration Act 1953 subsection 426-102(1) of Schedule 1 | Taxation Administration Act 1953 section 426-103 of Schedule 1

Reasons for decision: Summary: A distribution of money from the Fund to the DGR entity for Appeal will be a permissible distribution. The distribution of money will form part of the Fund's minimum annual distribution for the purpose of Guideline 19 of the Public Ancillary Fund Guidelines 2011 (as amended).

Reasons for decision: While these reasons are not part of the private ruling, we provide them to help you to understand how we reached our decision.