Document ID: chunk:federal_register_of_legislation:C2004C00927:clause:1_11:p1
Version: federal_register_of_legislation:C2004C00927
Segment Type: clause
Provision Reference: sch 1 cl 11 (pt 1/9)
Character Range: 292395–296749

11  After Part 2-10
Insert:

Part 2-15—Exempt income

Division 50—Exempt entities

Table of Subdivisions

50-A Various exempt entities

Subdivision 50-A—Various exempt entities

Table of sections

50-1 Entities whose ordinary income and statutory income is exempt
50-5 Charity, education, science and religion
50-10 Community service
50-15 Employees and employers
50-20 Finance
50-25 Government
50-30 Health
50-35 Mining
50-40 Primary and secondary resources, and tourism
50-45 Sports, culture, film and recreation

50-1  Entities whose ordinary income and statutory income is exempt

  The total *ordinary income and *statutory income of the entities covered by the following tables is exempt from income tax. In some cases, the exemption is subject to special conditions.

Note 1: Ordinary and statutory income that is exempt from income tax is called exempt income: see section 6-20. The note to subsection 6‑15(2) describes some of the other consequences of it being exempt income.

Note 2: Even if you are an exempt entity, the Commissioner can still require you to lodge an income tax return or information under section 161 of the Income Tax Assessment Act 1936.

50-5  Charity, education, science and religion

Charity, education, science and religion
Item                                      Exempt entity                                                                                                                    Special conditions
1.1                                       charitable institution                                                                                                           none
1.2                                       religious institution                                                                                                            none
1.3                                       scientific institution                                                                                                           none
1.4                                       public educational institution                                                                                                   none
1.5                                       fund established for public charitable purposes by will or instrument of trust                                                   fund applied for the purpose for which it was established
1.6                                       fund established to enable scientific research to be conducted by or in conjunction with a public university or public hospital  fund applied for the purpose for which it was established
1.7                                       society, association or club established for the encouragement of science                                                        not carried on for the profit or gain of its individual members

50-10  Community service

Community service
Item               Exempt entity                                                                                                    Special conditions
2.1                society, association or club established for community service purposes (except political or lobbying purposes)  not carried on for the profit or gain of its individual members

50-15  Employees and employers

Employees and employers
Item                     Exempt entity                 Special conditions
3.1                      (a) employee association; or  registered under an *Australian law relating to the settlement of industrial disputes
                         (b) employer association
3.2                      trade union                   none

Note: Despite items 3.1 and 3.2, certain ordinary and statutory income of some associations of employees and some registered trade unions may be subject to income tax under Division 8A of Part III of the Income Tax Assessment Act 1936.

 50-20  Finance

Finance
Item     Exempt entity                                                Special conditions
4.1      a *friendly society (except a *friendly society dispensary)  not carried on for the profit or gain of its individual members

50-25  Government

Government
Item        Exempt entity                                             Special conditions
5.1         (a) a municipal corporation; or                           none
            (b) a local governing body
5.2