Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p2
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 2/26)
Character Range: 1226023–1228813

situated at or near a port or harbour from which the business is conducted; and
 (f) structural improvements that are excluded from paragraph (c), (d) or (e) because they are used for domestic or residential purposes if they are provided for the accommodation of employees, tenants or sharefarmers who are engaged in or in connection with the activities referred to in that paragraph.
 (2) Plant also includes plumbing fixtures and fittings (including wall and floor tiles) provided by an entity mainly for:
 (a) either or both:
 (i) employees in a *business carried on by the entity for the *purpose of producing assessable income; or
 (ii) employees in a business carried on for that purpose by a company that is a member of the same *wholly‑owned group of which the entity is a member; or
 (b) *children of any of those employees.
 (3) The written down value of a *depreciating asset is its *cost less the sum of:
 (a) the amounts you have deducted or can deduct for its decline in value; and
 (b) if section 40‑340 applied to your acquisition of it—the amounts the transferor, and earlier successive transferors, deducted or can deduct for its decline in value.

Part 2‑15—Non‑assessable income

Division 50—Exempt entities

Table of Subdivisions
50‑A Various exempt entities
50‑B Endorsing charitable entities as exempt from income tax

Subdivision 50‑A—Various exempt entities

Table of sections
50‑1 Entities whose ordinary income and statutory income is exempt
50‑5 Charity, education and science
50‑10 Community service
50‑15 Employees and employers
50‑25 Government
50‑30 Health
50‑35 Mining
50‑40 Primary and secondary resources, and tourism
50‑45 Sports, culture and recreation
50‑47 Special condition for all items
50‑50 Special conditions for item 1.1
50‑52 Special condition for item 1.1
50‑55 Special conditions for items 1.3, 1.4, 6.1 and 6.2
50‑65 Special conditions for item 1.6
50‑70 Special conditions for items 1.7, 2.1, 9.1 and 9.2
50‑72 Special condition for item 4.1
50‑75 Certain distributions may be made overseas

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.
Note 3: In all cases the exemption is subject to the special condition in section 50‑47 (about an