Reference: TR 96/8 – item 2.1.10 s 30-25(1) ITAA 97
The ATO has for some time been putting forward the view in correspondence that only an educational institution is able to conduct a School or College Building Fund. There are many churches and property trusts who have had these funds approved in the past but the ATO has been refusing these institutions recently.
Corney & Lind were consulted on one recent knock back and wrote the objection. Result? The ATO reversed their decision.