(1) The agent of a
political party shall, by 30 November in each year, lodge a return with the
Electoral Commissioner in an approved form setting out details of all gifts
and other income received by the party during the financial year which ended
on the last preceding 30 June.
(2) The following
gifts and income received by the political party do not have to be included in
the return —
(a)
gifts made to the party for a purpose related to an election or by-election
under the Commonwealth Electoral Act 1918 ;
(b)
other gifts and income which the party has used, or will use, for a purpose
related to an election or by-election under the Commonwealth Electoral Act
1918 ;
(c) any
income that consists of a payment received under Division 2A.
(3) In the case of
gifts the details to be set out in the return are as follows —
(a) the
amount or value of all gifts; and
(b) the
relevant details of each gift the value of which equals or exceeds the
specified amount.
(4) For the purposes
of subsection (3)(b) the sum of the respective amounts or values of 2 or more
gifts made to a political party by the same person shall be taken to be one
gift but, in calculating that sum, an amount or value that is less than
one-third of the specified amount need not be counted.
(5) The agent of a
political party may comply with this section by lodging a return or the
relevant portion of a return prepared, in relation to the financial year in
question, for the purposes of section 314AB of the
Commonwealth Electoral Act 1918 , and a return or portion of a return so
lodged is to be regarded as satisfying the requirements of this section even
if —
(a) it
does not separate the amounts and values of gifts from the amounts and values
of other income received by the party; and
(b) it
does not separate gifts and income referred to in subsection (2) from other
gifts and income.
[Section 175N inserted: No. 75 of 1992 s. 4 (as
amended: No. 43 of 1996 s. 26); amended: No. 55 of 2006 s. 7.]