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The ATO has issued a Decision Impact Statement in relation to the decision of the High Court in FCT v Bargwanna [2012] HCA 11; 2012 ATC 20-312; 82 ATR 273.

The case concerned whether a public charitable trust should be exempt from income tax where part of the fund is applied for another purpose and not for public charitable purposes.

The High Court decided that the trust fund was not entitled to endorsement as an exempt entity. The Court was of the view that the trustees had not applied the trust fund for the purposes for which it was established: s 50-60 ITAA 1997. The High Court said it was not sufficient to satisfy the requirements of s 50-60 of the ITAA 1997 that the trust fund be "substantially" or largely applied for the purposes set out in the deed of trust.

The ATO agrees.


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