HOUSE OF REPRESENTATIVES

TAXATION LAWS AMENDMENT BILL (NO. 6) 1992

Taxation Laws Amendment Act (No. 6) 1992

MEDICARE LEVY AMENDMENT BILL (NO. 2) 1992

Medicare Levy Amendment Act (No. 2) 1992

Explanatory Memorandum

(Circulated by the authority of the Treasurer,the Hon. John Dawkins, M.P.)

Gift Provisions - Royal College of Pathologists of Australasia

Summary of proposed amendments

Purpose of amendment: Reflects a change in the name of the College of Pathologists of Australia which is listed in the income tax gift provisions.

Date of Effect: 16 January 1980

Background to the legislation

On the 16 January 1980, the College of Pathologists of Australia, which is listed under subparagraph 78(1)(a)(xxxvi) of the Income Tax Assessment Act 1936 changed its name to the Royal College of Pathologists of Australasia.

Explanation of proposed amendments

The Bill amends paragraph 78(1)(a) of the Act to omit from subparagraph 78(1)(a)(xxxvi) "College of Pathologists of Australia" and substitute it with "Royal College of Pathologists of Australasia" [Clause 5] . This subparagraph will continue to allow gifts of the value of $2 or more of money or property purchased within 12 months, made to the Royal College of Pathologists of Australasia to be tax deductible.

The amendment applies in relation to gifts made on or after 16 January 1980 [Clause 6] .


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