Registered non-profit organisation definitions clarify registration, related-party benefits, residual income and accreted-income taxation under the new regime.

Section 355 establishes definitions for registered non-profit organisations under Part XVII, including donation, registration, cancellation, related person, residual income, specified asset and specified person. Cancellation includes withdrawal, while donation means a voluntary contribution received by a registered non-profit organisation. Residual income is total income before application of Part XVII reduced by regular income and specified income. Specified assets, including certain pre-registration and dissolution-related assets, are integrated with accreted-income computation. The framework also defines related-person benefits and recognises wholly charitable, wholly religious, and combined charitable and religious purposes.

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