Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1936 - SECT 24AP

Second way in which a body can be an STB

    A body is an STB if:

  (a)   it is established by State or Territory legislation; and

  (b)   it is not a company limited solely by shares; and

  (c)   the legislation provides that it must distribute all of its profits (if any) only to one or more government entities; and

  (d)   if the legislation makes provision as to the way its net assets may be distributed if it is dissolved or wound up--the provision is that, if it is dissolved, all of its net assets (if any) must be distributed only to one or more government entities.


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