Is the total ordinary and statutory income of the entity exempt from income tax, in accordance with section 50-1 of the ITAA 1997 as a society, association or club established for the encouragement of a game or sport under item 9.1(c) of the table in section 50-45 of ITAA 1997?
Yes. This ruling applies for the following periods : 1 July 2023 to 30 June 2024 1 July 2024 to 30 June 2025 1 July 2025 to 30 June 2026 1 July 2026 to 30 June 2027 1 July 2027 to 30 June 2028 The scheme commenced on: 1 July 2023
The applicant is a sporting organisation.
Income Tax Assessment Act 1997 section 50-1 Income Tax Assessment Act 1997 section 50-45 Income Tax Assessment Act 1997 section 50-47 Income Tax Assessment Act 1997 section 50-70
The sporting organisation satisfied all requirements to be considered an entity exempt from income tax, in accordance with section 50-1 of the ITAA 1997 as a society, association or club established for the encouragement of a game or sport under item 9.1(c) of the table in section 50-45 of ITAA 1997.