4DInstitution sub‑entities

4D  Institution sub‑entities

ABN

(1) The A New Tax System (Australian Business Number) Act 1999 applies to an institution sub‑entity as if the institution sub‑entity were carrying on an enterprise in Australia.

(2) During the period:

 (a) starting on the commencement day; and

 (b) ending on the earlier of:

 (i) the day the Registrar of the Australian Business Register registers an institution sub‑entity in the Australian Business Register; and

 (ii) 12 months after the commencement day;

paragraph 10(1)(a) of the A New Tax System (Australian Business Number) Act 1999 (entity must have applied for registration) does not apply to the institution sub‑entity.

Note: Subitem (2) has the effect that the Registrar of the Australian Business Register must register the institution sub‑entity in the Australian Business Register (including allocating the institution sub‑entity an ABN).

(3) During that period (and without limiting item 4C), the institution sub‑entity may treat the ABN of the non‑institution sub‑entity as being the ABN of the institution sub‑entity.

Endorsements

(4) In a case to which paragraph 4A(1)(a) applies:

 (a) the endorsement mentioned in that paragraph is treated as being an endorsement of the institution sub‑entity mentioned in paragraph 4B(1)(b); and

 (b) the Commissioner of the ACNC is treated as having registered the institution sub‑entity on the commencement day under Division 30 of the ACNC Act as:

 (ii) the subtype of entity mentioned in column 2 of item 5 of that table (institution whose principal activity is to promote the prevention or the control of diseases in human beings).

(5) In a case to which paragraph 4A(1)(b) applies:

 (a) the endorsement mentioned in that paragraph is treated as being an endorsement of the institution sub‑entity mentioned in paragraph 4B(1)(c); and

 (b) the Commissioner of the ACNC is treated as having registered the institution sub‑entity on the commencement day under Division 30 of the ACNC Act as:

 (ii) the subtype of entity mentioned in column 2 of item 6 of that table (public benevolent institution).

(6) In a case to which paragraph 4A(1)(c) applies:

 (a) the Commissioner of Taxation is treated as having endorsed the institution sub‑entity mentioned in paragraph 4B(1)(c) under subsection 123C(1) of the Fringe Benefits Tax Assessment Act 1986 as a public benevolent institution; and

 (b) the Commissioner of the ACNC is treated as having registered the institution sub‑entity on the commencement day under Division 30 of the ACNC Act as: