Div 30 inserted by No 121 of 1997.
Working out the amount you can deduct for a gift of property
SECTION 30-220 Reducing the amount you can deduct
(a) the terms and conditions on which the gift is made are such that the recipient:
(i) does not receive immediate custody and control of the property; or
(ii) does not have the unconditional right to retain custody and control of the property in perpetuity; or
(iii) does not obtain an immediate, indefeasible and unencumbered legal and equitable title to the property; or
(b) the custody, control or use of the property by the recipient is affected by an *arrangement entered into in respect of the making of the gift.
S 30-220(2) amended by No 176 of 1999.
S 30-220 inserted by No 121 of 1997.