Threshold for non-profit taxable income: meeting the required application of regular income for charitable purposes limits taxable regular income. Taxable regular income of a registered non-profit organisation is nil where a specified threshold of regular income has been applied or accumulated for charitable or religious purposes in the tax year; otherwise taxable regular income equals a specified proportion of regular income reduced by amounts applied or accumulated for charitable or religious purposes in that tax year.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Threshold for non-profit taxable income: meeting the required application of regular income for charitable purposes limits taxable regular income.
Taxable regular income of a registered non-profit organisation is nil where a specified threshold of regular income has been applied or accumulated for charitable or religious purposes in the tax year; otherwise taxable regular income equals a specified proportion of regular income reduced by amounts applied or accumulated for charitable or religious purposes in that tax year.
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