Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 207.115

  (1)   This section sets out the only circumstances in which an entity is 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.