Income tax definitions for non-profit regulation clarify donations, related persons, specified assets and commercial activity. Definitions establish operative terms for registered non-profit organisations: 'anonymous donation' lacks prescribed donor identity records; 'donation' is any voluntary contribution received by a registered non-profit organisation; 'commercial activity' comprises any trade, business or service for consideration; 'related person' includes founders, significant contributors, trustees, relatives and concerns with a substantial interest; 'specified person' and 'specified asset' identify assets acquired or transferred in specified pre- or post-registration periods; 'residual income' is total income before applying this Part less regular and specified income.
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.
Income tax definitions for non-profit regulation clarify donations, related persons, specified assets and commercial activity.
Definitions establish operative terms for registered non-profit organisations: "anonymous donation" lacks prescribed donor identity records; "donation" is any voluntary contribution received by a registered non-profit organisation; "commercial activity" comprises any trade, business or service for consideration; "related person" includes founders, significant contributors, trustees, relatives and concerns with a substantial interest; "specified person" and "specified asset" identify assets acquired or transferred in specified pre- or post-registration periods; "residual income" is total income before applying this Part less regular and specified income.
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