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INCOME TAX ASSESSMENT ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-5 - RULES ABOUT DEDUCTIBILITY OF PARTICULAR KINDS OF AMOUNTS  

Division 30 - Gifts or contributions    View history reference

Subdivision 30-DA - Donations to political parties and independent candidates and members    View history reference

Operative provisions

SECTION 30-242  Deduction for political contributions and gifts  

 View history reference

30-242(1)  

You can deduct any of the following for the income year in which they are made:


(a) a contribution or gift to a political party that is registered under Part XI of the Commonwealth Electoral Act 1918 or under corresponding State or Territory legislation;


(b) a contribution or gift to an individual when the individual is an *independent candidate for a Commonwealth, State, Northern Territory or Australian Capital Territory election;


(c) a contribution or gift to an individual who is, or was, an *independent member of the Commonwealth Parliament, a State Parliament, the Legislative Assembly of the Northern Territory or the Legislative Assembly for the Australian Capital Territory.

30-242(2)  

 View history reference
The contribution or gift must be of:


(a) money; or


(b) property that you purchased during the 12 months before making the contribution or gift.

30-242(3)  

The value of the contribution or gift must be at least $2.

30-242(3A)  

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You can deduct the contribution or gift only if:


(a) you are an individual; and


(b) you do not make the gift or contribution in the course of carrying on a *business.
 View history reference

30-242(4)  

You cannot deduct a testamentary contribution or gift under this Subdivision.

30-242(5)  

A contribution or gift to an individual who is, or was, an *independent member must be made:


(a) when the individual is an independent member; or


(b) if the individual ceases to be an independent member because:


(i) a Parliament, a House of a Parliament or a Legislative Assembly is dissolved or has reached its maximum duration; or

(ii) the individual comes up for election;
after the individual ceases to be a member but before candidates for the resulting election are declared or otherwise publicly announced by an entity authorised under the relevant electoral legislation.


 



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