Summary
Amends the: Income Tax Assessment Act 1997 to require a fund, authority or institution to be a registered charity or an Australian government agency, or be operated by a registered charity or an Australian government agency, to be entitled to a deductible gift recipient endorsement; Income Tax Assessment Act 1936 and Income Tax Assessment Act 1997 to remove the concessional tax treatment for offshore banking units (OBU); and Income Tax Assessment Act 1936 to: remove the ability of the minister to issue determinations or declarations that a person or entity is an OBU; and remove the withholding tax exemption for OBUs for interest (including interest consisting of gold) paid on or after 1 January 2024.