Commonwealth Consolidated Acts

TAX LAWS AMENDMENT (2009 MEASURES NO. 5) ACT 2009 - SCHEDULE 6

Part   1 -- Main provisions

1   Interpretation

Expressions used in this Part that are also used in the Income Tax Assessment Act 1997 have the same meaning as in that Act.

2   2009 Victorian Bushfire Appeal Trust Account

This Part applies if the 2009 Victorian Bushfire Appeal Trust Account mentioned in item   4.2.41 of the table in subsection 30 - 45(2) of the Income Tax Assessment Act 1997 is used only for one or more of the following purposes for the benefit of communities and individuals affected by the Victorian bushfires of January and February 2009:

  (a)   purposes consistent with those described in item   4.1.5 of the table in subsection 30 - 45(1) of that Act for Australian disaster relief funds covered by that item;

  (b)   providing broad public benefits that:

  (i)   are consistent with the purposes of one or more exempt entities; and

  (ii)   are widely and publicly accessible; and

  (iii)   are commercial or private only to an incidental and ancillary extent, if at all;

  (c)   reimbursing payments made by individuals or organisations for purposes covered by paragraph   ( a) or (b);

  (d)   providing long - term assistance to orphans who are less than 18 years old;

  (e)   providing:

  (i)   assistance to individuals whose main residences were destroyed in the bushfires, if the residences had the characteristics of being the owner - occupied main residences of the individuals (ignoring the actual legal ownership of the residences); or

  (ii)   assistance to individuals who , because of the bushfires, have lived or are living in transitional housing, up to $15,000 for each individual ;

  (f)   providing assistance to individuals who:

  (i)   carry on primary production businesses; or

  (ii)   are partners in partnerships that carry on primary production businesses; or

  (iii)   are beneficiaries of trusts that carry on primary production businesses;

    up to $10,000 for each individual.

3   Australian Red Cross Society

For the purposes of a taxation law or the Australian Charities and Not - for - profits Commission Act 2012 , in determining whether the Australian Red Cross Society is a public benevolent institution or a charitable institution , disregard any payments from the Society to the 2009 Victorian Bushfire Appeal Trust Account.

4   Application

Item   3 applies in relation to payments made:

  (a)   after 28   January 2009; and

  (b)   before 6   February 2014.

Part   2 -- Consequential amendments

Income Tax Assessment Act 1997

5   At the end of subsection 30 - 45(1)

Add:

Note:   In determining whether the Australian Red Cross Society is a public benevolent institution or a charitable institution, see Part   1 of Schedule   6 to the Tax Laws Amendment (2009 Measures No.   5) Act 2009 .

7   Subsection 30 - 45(2) (table item   4.2.41)

Repeal the item.

Notes to the Tax Laws Amendment (2009 Measures No. 5) Act 2009

Note 1

The Tax Laws Amendment (2009 Measures No.   5) Act 2009 as shown in this compilation comprises Act No. 118, 2009 amended as indicated in the Tables below.

Table of Acts

Table of Amendments