Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p7
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 7/26)
Character Range: 1244144–1246922

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 the fund:
 (a) is applied for the purposes for which it is established; and
 (b) distributes solely, and has at all times since the time mentioned in subsection (2) distributed solely, to a fund, authority or institution that:
 (i) meets the description and requirements in item 1 of the table in section 30‑15; and
 (ii) is an *exempt entity; and
 (c) complies with all the substantive requirements in its governing rules; and
 (d) applies its income and assets solely for the purpose for which the fund is established.
 (2) The time is the start of the income year after the income year in which the Tax Laws Amendment (2005 Measures No. 3) Act 2005 receives the Royal Assent.

50‑75  Certain distributions may be made overseas
 (1) In determining for the purposes of this Subdivision whether an institution, fund or other body incurs its expenditure or pursues its objectives principally in Australia, distributions of any amount received by the institution, fund or other body as a gift (whether of money or other property) or by way of government grant are to be disregarded.
 (2) In determining for the purposes of this Subdivision whether an institution, fund or other body incurs its expenditure or pursues its objectives principally in Australia, distributions of any amount from a fund that is referred to in a table in Subdivision 30‑B and operated by the institution, fund or other body are to be disregarded.

Subdivision 50‑B—Endorsing charitable entities as exempt from income tax

Guide to Subdivision 50‑B

50‑100  What this Subdivision is about
      This Subdivision sets out rules about endorsement of charities as exempt from income tax. Such entities are only exempt from income tax if they are endorsed.

Table of sections

Endorsing charitable entities as exempt from income tax
50‑105 Endorsement by Commissioner
50‑110 Entitlement to endorsement

Endorsing charitable entities as exempt from income tax

50‑105  Endorsement by Commissioner
  The Commissioner must endorse an entity as exempt from income tax if the entity:
 (a) is entitled to be endorsed as exempt from income tax; and
 (b) has applied for that endorsement in accordance with Division 426 in Schedule 1 to the Taxation Administration Act 1953.
Note: For procedural rules relating to endorsement, see Division 426 in Schedule 1 to the Taxation Administration Act 1953.

50‑110  Entitlement to endorsement

General rule
 (1) An entity is entitled to be endorsed as exempt from income tax if the entity meets all the relevant requirements of this section.

Which