INCOME TAX ASSESSMENT ACT 1936 - SECT 102MD Exempt institution that is eligible for a refund not treated as exempt entity

INCOME TAX ASSESSMENT ACT 1936 - SECT 102MD

    For the purposes of this Division, treat an entity as not being an exempt entity if:

  (a)   the entity is an exempt institution that is eligible for a refund (within the meaning of the Income Tax Assessment Act 1997 ); or

  (b)   the entity is treated as such an exempt institution that is eligible for a refund.

Example:   The Future Fund Board is treated as an exempt institution that is eligible for a refund for the purposes of the Income Tax Assessment Act 1997 (see section   84B of the Future Fund Act 2006 ).