Definition
A codeset representing the income tax exemption status of an entity
Representation
| Data Type | Number |
|---|---|
| Format | N |
| Maximum character length | 1 |
Values
| Value | Meaning | Start Date | End Date | |
|---|---|---|---|---|
| Permissible Values | 1 | Income tax exempt | ||
| 2 | Non-income tax exempt | |||
| Supplementary Values | 9 | Not stated/inadequately described |
Comments
Guide for use:
CODE 1 Income tax exempt
Income Tax Exempt organisation has been endorsed by the Australian Taxation Office as exempt from income tax. As well as being exempt from paying income tax, an Income Tax Exempt organisation does not have to lodge income tax returns unless specifically requested to do so by the Australian Taxation Office (www.ato.gov.au).
CODE 2 Non-income tax exempt
Organisation that are not endorsed by the Australian Taxation Office as being exempt from paying income tax are classified as non-income tax exempt.
References
Related content
| Relation | Count |
|---|---|
| Data Elements implementing this Value Domain | 1 |