Commonwealth Consolidated Acts

INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 59.50

    Without limiting subsection   59 - 50(6) of the Income Tax Assessment Act 1997 , an entity was an Indigenous holding entity at a time if:

  (a)   the time occurred:

  (i)   during an income year starting on or after 1   July 2008; and

  (ii)   before the commencement of Chapter   2 of the Australian Charities and Not - for - profits Commission Act 2012 ; and

  (b)   at that time, the entity was endorsed under Subdivision   50 - B of the Income Tax Assessment Act 1997 as exempt from income tax because the entity was covered by item   1.1, 1.5, 1.5A or 1.5B of the table in section   50 - 5 of that Act, as in force at that time.

Table of Subdivisions

61 - L   Tax offset for Medicare levy surcharge (lump sum payments in arrears)

Table of Sections

61 - 575   Application of Subdivision   61 - L of the Income Tax Assessment Act 1997