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  

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

Operative provisions

SECTION 30-242   Deduction for political contributions and gifts  

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)    

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)    

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.

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.