Draft ruling published on ‘In Australia’ condition

The ATO has recently published a draft ruling about the ‘In Australia’ requirement for certain deductible gift recipients (DGR) and income tax exempt entities.

The draft ruling explains what it means for:

  • a DGR to be ‘In Australia’ as a condition of their endorsement
  • certain entities to have a ‘physical presence in Australia’ as a condition for their income being exempt from income tax
  • a registered charity or DGR to have a ‘physical presence in Australia’ as a condition for them qualifying for a refund of franking credits.

To view the draft ATO ruling in full, click here.

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