s 59-50
In forceIndigenous holding entities
Chapter 2Liability rules of general application
Part 2-15Non‑assessable income
Division 59Particular amounts of non‑assessable non‑exempt income
Subdivision 59-NNative title benefits
59-50 Indigenous holding entities
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.
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