Income Tax Act 2007(c. 3) - Explanatory Notes

Explanatory Notes

Income Tax Act 2007

2007 CHAPTER 3

20 March 2007

Commentary on Sections

Part 10: Special rules about charitable trusts etc

Overview

Section 530: Exemption for profits from lotteries

1597. This section provides an exemption for lottery income provided the income is applied to the purposes of the charitable trust. It is based on section 505(1) of ICTA.