Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 30.242

Deduction for political contributions and gifts

             (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.

             (2)  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.

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

          (3A)  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.

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

             (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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