South Australian Current Regulations South Australian Current Regulations16—Deductible gift recipient status
(1) This regulation
applies to a hospital incorporated under the Act that is endorsed as a
deductible gift recipient under the Income Tax Assessment Act 1997 of the
Commonwealth.
(2) At the first
occurrence of—
(a) an
incorporated hospital ceasing to be a deductible gift recipient; or
(b) the
winding up of a gift fund maintained by an incorporated hospital; or
(c) the
dissolution of an incorporated hospital,
the surplus assets of any gift fund or, if the hospital has not maintained a
gift fund, the surplus—
(d)
gifts of money or property for the principal purpose of the hospital;
(e)
deductible contributions received in relation to fund-raising events held for
the principal purpose of the hospital; or
(f)
money received by the hospital because of such gifts or contributions,
must be transferred to a fund, authority or institution gifts to which can be
deducted under the Income Tax Assessment Act 1997 (Commonwealth).