| 4.26 First, I will expand the definition
of “charitable purposes”. Currently, the
Government recognises four broad charitable purposes
for charity status:
-
the prevention and relief of poverty;
-
the advancement of education;
-
the advancement of religion; and
-
other purposes beneficial to the community.
4.27 I have decided to recognise the advancement of
sport as a fifth charitable purpose, where the sport
advances the health of individuals. Because this recognises
the importance of sports in promoting a healthy lifestyle
for all, we will only extend it to sports that require
physical skill and exertion. Qualifying sports groups
will be eligible for income tax exemption from YA2006.
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