Part 2-15—Exempt income
Division 50—Exempt entities
Table of Subdivisions
50-A Various exempt entities
Subdivision 50-A—Various exempt entities
Table of sections
50-1 Entities whose ordinary income and statutory income is exempt
50-5 Charity, education, science and religion
50-10Community service
50-15Employees and employers
50-20Finance
50-25Government
50-30Health
50-35Mining
50-40 Primary and secondary resources, and tourism
50-45 Sports, culture, film and recreation
50-1 Entities whose ordinary income and statutory income is exempt
The total *ordinary income and *statutory income of the entities covered by the following tables is exempt from income tax. In some cases, the exemption is subject to special conditions.
Note 1: Ordinary and statutory income that is exempt from income tax is called exempt income: see section 6-20. The note to subsection 6-15(2) describes some of the other consequences of it being exempt income.
Note 2: Even if you are an exempt entity, the Commissioner can still require you to lodge an income tax return or information under section 161 of the Income Tax Assessment Act 1936.
50-5 Charity, education, science and religion
|
Charity, education, science and religion |
||
|
Item |
Exempt entity |
Special conditions |
|
1.1 |
charitable institution |
none |
|
1.2 |
religious institution |
none |
|
1.3 |
scientific institution |
none |
|
1.4 |
public educational institution |
none |
|
1.5 |
fund established for public charitable purposes by will or instrument of trust |
fund applied for the purpose for which it was established |
|
1.6 |
fund established to enable scientific research to be conducted by or in conjunction with a public university or public hospital |
fund applied for the purpose for which it was established |
|
1.7 |
society, association or club established for the encouragement of science |
not carried on for the profit or gain of its individual members |
50-10 Community service
|
Community service |
||
|
Item |
Exempt entity |
Special conditions |
|
2.1 |
society, association or club established for community service purposes (except political or lobbying purposes) |
not carried on for the profit or gain of its individual members |
50-15 Employees and employers
|
Employees and employers |
||
|
Item |
Exempt entity |
Special conditions |
|
3.1 |
(a) employee association; or (b) employer association |
registered under an *Australian law relating to the settlement of industrial disputes |
|
3.2 |
trade union |
none |
Note: Despite items 3.1 and 3.2, certain ordinary and statutory income of some associations of employees and some registered trade unions may be subject to income tax under Division 8A of Part III of the Income Tax Assessment Act 1936.
50-20 Finance
|
Finance |
||
|
Item |
Exempt entity |
Special conditions |
|
4.1 |
a *friendly society (except a *friendly society dispensary) |
not carried on for the profit or gain of its individual members |
50-25 Government
|
Government |
||
|
Item |
Exempt entity |
Special conditions |
|
5.1 |
(a) a municipal corporation; or (b) a local governing body |
none |
|
5.2 |
a public authority constituted under a *Commonwealth law |
none |
Note: The ordinary and statutory income of a State or Territory body is exempt: see Division 1AB of Part III of the Income Tax Assessment Act 1936.
50-30 Health
|
Health |
||
|
Item |
Exempt entity |
Special conditions |
|
6.1 |
public hospital |
none |
|
6.2 |
hospital carried on by a society or association |
not carried on for the profit or gain of its individual members |
|
6.3 |
the following organisations registered for the purposes of the National Health Act 1953: (a) a medical benefits organisation; (b) a health benefits organisation; (c) a hospital benefits organisation |
not carried on for the profit or gain of its individual members |
50-35 Mining
|
Mining |
||
|
Item |
Exempt entity |
Special conditions |
|
7.1 |
the Phosphate Mining Company of Christmas Island Limited (incorporated in the Australian Capital Territory) |
none |
|
7.2 |
the British Phosphate Commissioners Banaba Contingency Fund (established on 1 June 1981) |
none |
50-40 Primary and secondary resources, and tourism
|
Primary and secondary resources, and tourism |
||
|
Item |
Exempt entity |
Special conditions |
|
8.1 |
a society or association established for the purpose of promoting the development of: (a) aviation; or (b) tourism |
not carried on for the profit or gain of its individual members |
|
8.2 |
a society or association established for the purpose of promoting the development of any of the following Australian resources: (a) agricultural resources; (b) horticultural resources; (c) industrial resources; (d) manufacturing resources; (e) pastoral resources; (f) viticultural resources |
not carried on for the profit or gain of its individual members |
50-45 Sports, culture, film and recreation
|
Sports, culture, film and recreation |
||
|
Item |
Exempt entity |
Special conditions |
|
9.1 |
a society, association or club established for the encouragement of: (a) animal racing; or (b) art; or (c) a game or sport; or (d) literature; or (e) music |
not carried on for the profit or gain of its individual members |
|
9.2 |
a society, association or club established for musical purposes |
not carried on for the profit or gain of its individual members |
|
9.3 |
the Australian Film Finance Corporation Pty Limited (incorporated under the Companies Act 1981 on 12 July 1988) |
none |
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