Charitable Trusts Regulation 2022
4Prescribed trusts
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4 Prescribed trusts
4 Prescribed trusts
For the Act, section 22A, definition of prescribed trust, paragraph (b), trusts that are exempt from income tax under the Income Tax Assessment Act 1997 of the Commonwealth, section 50-5, item 1.1 are a prescribed class of trusts.
Note—
An entity can only be endorsed as exempt from income tax under the Income Tax Assessment Act 1997 of the Commonwealth, Subdivision 50-B if the entity is a registered charity under the Australian Charities and Not-for-profits Commission Act 2012 of the Commonwealth and meets certain other requirements under the Income Tax Assessment Act 1997 of the Commonwealth.