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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-DB - Spreading certain gift and covenant deductions over up to 5 income years    View history reference [No equivalent]

Operative provisions

SECTION 30-247  Gifts and covenants for which elections can be made  

 View history reference

30-247(1)  

An election under this Subdivision may be made for a gift, made on or after 1 July 2003, that is:


(a) a gift of:


(i) money; or

(ii) property valued by the Commissioner at more than $5,000;
made to a fund, authority or institution covered by item 1 or 2 of the table in section 30-15; or


(b) a gift that is covered by item 4, 5 or 6 of the table in section 30-15.

30-247(2)  

An election under this Subdivision may also be made for entering into a *conservation covenant, under Division 31, on or after 1 July 2003.


 



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