Australian Business Register must show private ancillary fund status
426-115 Australian Business Register must show private ancillary fund status
If a *private ancillary fund has an *ABN, the *Australian Business Registrar must enter in the *Australian Business Register in relation to the fund a statement that it is a private ancillary fund.
An entry (or lack of entry) of a statement required by this section does not affect whether a trust is a private ancillary fund.
The Australian Business Register will also show if a private ancillary fund is endorsed as a deductible gift recipient: see section 30‑229 of the Income Tax Assessment Act 1997.
The *Australian Business Registrar must take reasonable steps to ensure that a statement appearing in the *Australian Business Register under this section is true. For this purpose, the Registrar may:
change the statement; or
remove the statement from the Register if the statement is not true.
Community charity trusts
This Act’s bill:Second reading speech
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