(1) An * endorsed charity, a * gift-deductible entity or a * government school may choose to * account on a cash basis, with effect from the first day of the tax period that the endorsed charity or entity chooses.
(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.
(4) This section has effect despite section 29-40 (which is about choosing to account on a cash basis).