Document ID: chunk:federal_register_of_legislation:C2025C00029:section:4:p8
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 4 (pt 8/34)
Character Range: 3544426–3547128

an exempt institution that is eligible for a refund.

Income tax exempt charities
 (2) An entity is an exempt institution that is eligible for a refund if it:
 (a) is covered by item 1.1 of the table in section 50‑5; and
 (b) is endorsed as exempt from income tax under Subdivision 50‑B; and
 (c) satisfies the *residency requirement.

Income tax exempt deductible gift recipients
 (3) An entity is an exempt institution that is eligible for a refund if it:
 (a) is endorsed under paragraph 30‑120(a); and
 (b) satisfies the *residency requirement.

Income tax exempt specified deductible gift recipients
 (4) An entity is an exempt institution that is eligible for a refund if:
 (a) the entity's name is specified in a table in a section in Subdivision 30‑B; and
 (b) it has an ABN; and
 (c) it satisfies the *residency requirement.

Income tax exempt subsidiaries of the Future Fund Board
 (5A) An entity is an exempt institution that is eligible for a refund if it is covered by item 5.4 of the table in section 50‑25.

Prescribed income tax exempt entities
 (6) An entity is an exempt institution that is eligible for a refund if the entity is prescribed as an exempt institution that is eligible for a refund by the regulations.
 (7) This section has effect subject to sections 207‑119 to 207‑136.

207‑117  Residency requirement
  An entity satisfies the residency requirement for the purposes of determining whether, at the time a *franked distribution is made, the entity is an *exempt institution that is eligible for a refund if:
 (a) the entity has a physical presence in Australia; and
 (b) to that extent, incurs its expenditure and pursues its objectives principally in Australia;
at all times during the income year in which the distribution is made.

207‑119  Entity not treated as exempt institution eligible for refund in certain circumstances
  For the purposes of this Act:
 (a) an entity must not be treated as an *exempt institution that is eligible for a refund in relation to a *franked distribution if section 207‑120, 207‑122 or 207‑124 applies to the entity in relation to the distribution; and
 (b) a beneficiary of a trust must not be treated as an exempt institution that is eligible for a refund in relation to a franked distribution made in an income year if section 207‑126 applies to the beneficiary in relation to that income year.

207‑120  Entity may be ineligible because of a distribution event
 (1) This section applies to an entity (the ineligible entity) if:
 (a) a *franked distribution is made, or *flows indirectly under subsection 207‑50(3) or (4), to the entity; and
 (b) subsection (2) of this section applies because of a *distribution event in relation