Published on 01 Nov 98
by THE TAX INSTITUTE
For completeness, reference should be made to s.50-70 of ITAA 97 generally, and the fact that exemption is generally available where the society, association or club is not carried on for the purpose of profit making or gain of individual members and has a physical presence in Australia; or is referred in a table in sub-division 30-(gifts); or is prescribed, located outside Australia and exempt from income tax in the country in which it is resident.
INSTITUTE OF CHARTERED ACCOUNTANTS IN AUSTRALIA
AUSTRALIAN TAXPAYERS ASSOCIATION
AUSTRALIAN SOCIETY OF CERTIFIED PRACTISING ACCOUNTANTS
TAXATION INSTITUTE OF AUSTRALIA