Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p6
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 6/26)
Character Range: 1241701–1244369

extent, incurs its expenditure and pursues its objectives principally in Australia; or
 (b) is an institution that meets the description and requirements in item 1 of the table in section 30‑15; or
 (c) is a prescribed institution which is located outside Australia and is exempt from income tax in the country in which it is resident;
and the entity satisfies the conditions in subsection (2).
Note: Certain distributions may be disregarded: see section 50‑75.
 (2) The entity must:
 (a) comply with all the substantive requirements in its governing rules; and
 (b) apply its income and assets solely for the purpose for which the entity is established.

50‑65  Special conditions for item 1.6
 (1) A fund covered by item 1.6 is not exempt from tax unless the fund is applied for the purposes for which it was established and is:
 (a) a fund that is located in, and which incurs its expenditure principally in, Australia and that is established for the purpose of enabling scientific research to be conducted principally in Australia by or in conjunction with a public university or public hospital; or
 (b) a scientific research fund that meets the description and requirements in item 1 or 2 of the table in section 30‑15;
and the fund satisfies the conditions in subsection (2).
Note: Certain distributions may be disregarded: see section 50‑75.
 (2) The fund must:
 (a) comply with all the substantive requirements in its governing rules; and
 (b) apply its income and assets solely for the purpose for which the fund is established.

50‑70  Special conditions for items 1.7, 2.1, 9.1 and 9.2
 (1) An entity covered by item 1.7, 2.1, 9.1 or 9.2 is not exempt from tax unless the entity is a society, association or club that is not carried on for the purpose of profit or gain of its individual members and that:
 (a) has a physical presence in Australia and, to that extent, incurs its expenditure and pursues its objectives principally in Australia; or
 (b) is a society, association or club that meets the description and requirements in item 1 of the table in section 30‑15; or
 (c) is a prescribed society, association or club which is located outside Australia and is exempt from income tax in the country in which it is resident;
and the entity satisfies the conditions in subsection (2).
Note: Certain distributions may be disregarded: see section 50‑75.
 (2) The entity must:
 (a) comply with all the substantive requirements in its governing rules; and
 (b) apply its income and assets solely for the purpose for which the entity is established.

50‑72  Special condition for item 4.1
 (1) A fund covered by item 4.1 is not exempt from income tax unless