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.