| (1) | Any COVID-19 disaster relief organisation must be deemed to be a public benefit organisation, as defined in section 30(1) of the Income Tax Act for the purposes of that Act, if that COVID-19 disaster relief organisation— |
| (a) | carries on a public benefit activity contemplated in paragraph (a) of the definition of ‘‘public benefit activity’’; and |
| (b) | meets the requirements set out in section 30(3) of that Act and is approved, as a public benefit organisation, by the Commissioner, subject to— |
| (i) | that COVID-19 disaster relief organisation complying with all the conditions imposed by section 30 of that Act in respect of a public benefit organisation; and |
| (ii) | any power granted to the Commissioner to withdraw the approval of any public benefit organisation under section 30 of that Act. |
| (2) | If the Commissioner has not approved any COVID-19 disaster relief organisation as a public benefit organisation or small business funding entity by 30 September 2020, the organisation must— |
| (a) | within six months or such longer period as the Commissioner may allow in order to consider an application for approval made on or before that date; or |
| (b) | as part of the dissolution of the organisation, |
transfer, or take reasonable steps to transfer, its remaining assets to any public benefit organisation, institution, board or body or the government as contemplated in section 30(3)(b)(iii) of the Income Tax Act, failing which, an amount of taxable income, determined as contemplated under section 30(7) of that Act at the end of the day on 30 September 2020, must be deemed to have accrued to that COVID-19 disaster relief organisation on 1 August 2020.
| (3) | Subsection (1) is deemed to have come into operation on 1 April 2020 and applies until 30 September 2020. |
| (4) | Subsection (2) is deemed to have come into operation on 1 April 2020. |
[Section 7 of the Disaster Management Tax Relief Act, 2020 (Act No. 13 of 2020), GG43883, 5 November 2020]
