Commonwealth Consolidated Acts Commonwealth Consolidated Acts
Government | ||
Item | Exempt entity | Special conditions |
5.1 | (a) a municipal corporation; or (b) a * local governing body | none |
5.2 | a public authority constituted under an * Australian law | none |
5.3 | a * constitutionally protected fund | none |
5.4 | a * 100% subsidiary of the * Future Fund Board that is incorporated under an * Australian law | the 100% subsidiary only undertakes investment activities that the Future Fund Board is able to undertake |
Note: The ordinary and statutory income of a State or Territory body is
exempt: see Division 1AB of Part III of the
Income Tax Assessment Act 1936 .