Definitions for "ITEC"
Keywords:  ato, charity, exempt, dgr, endorsed
Income tax exempt charity as defined by ATO.
Income Tax Exempt Charity. An organisation that does not have to pay state or federal income taxes on their income. They are endorsed by the ATO as an income tax exempt charity (ITEC) and, depending on their purpose and activities, as a Deductible Gift Recipient (DGR).
Income Tax Exempt Charity. The ATO definition of an income tax exempt charity is as follows: "Endorsement as an income tax exempt charity means you are exempt from paying income tax on income derived during the period of your endorsement. To be entitled to endorsement, an entity must: have an Australian Business Number be a charitable institution or the trustee of a fund established for public charitable purposes, and satisfy the additional conditions for entitlement Not all organisations which are tax exempt are necessarily charities; some types of nonprofit organisation are entitled to an exemption from income tax, but are not considered income tax exempt charities.
Information Technology Education Centre.
Information Technology, Electronics and Communications (a Panel in the UK Technology Foresight exercise)
IT Executive Committee – similar to the Senate or a Steering Committee
International Therapy Examination Council