Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 157.10

Charities etc. ceasing to account on a cash basis

  (1)   Paragraphs 29 - 50(1)(a) and (ab) and subsection   29 - 50(3) do not apply in relation to any * endorsed charity, any * gift - deductible entity or any * government school.

  (3)   This section does not apply in relation to a * gift - deductible entity endorsed as a deductible gift recipient (within the meaning of the * ITAA 1997) under section   30 - 120 of the ITAA 1997, unless the entity is:

  (a)   an * endorsed charity; or

  (b)   a * government school; or

  (c)   a fund, authority or institution of a kind referred to in paragraph   30 - 125(1)(b) of the ITAA 1997.

Note:   This subsection excludes from this section certain (but not all) gift - deductible entities that are only endorsed for the operation of a fund, authority or institution.


AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback