46 Meaning of specified not-for-profit entity

For the purposes of an enactment that refers to this section, an entity is a specified not-for-profit entity in respect of an accounting period if, in each of the 2 preceding accounting periods of the entity, the total operating payments of the entity are $140,000 or more.

Section 46: amended, on 1 January 2022, by regulation 5 of the Financial Reporting (Inflation Adjustments) Regulations 2021 (LI 2021/307).