Tax Laws Amendment (2006 Measures No. 3) Act 2006 (80 of 2006)

Schedule 11   Deductible gift categories

Part 1   Amendments

Income Tax Assessment Act 1997

11   After section 30-85

Insert:

30-86 Developed country disaster relief funds

(1) For the purposes of item 9.1.2 of the table in subsection 30-80(1), a disaster is one to which this subsection applies if the Minister has recognised it as a disaster. The Minister may do so if satisfied that:

(a) it developed rapidly; and

(b) it resulted in the death, serious injury or other physical suffering of a large number of people, or in widespread damage to property or the natural environment.

(2) The Minister's recognition of an event as a disaster:

(a) must be in writing; and

(b) must specify the day (or the first day) of the event; and

(c) must be published on the Internet or by another method determined by the Minister.

(3) The Minister's recognition of an event as a disaster is not a legislative instrument.

(4) You can deduct a gift that you make to a public fund covered by item 9.1.2 of the table in subsection 30-80(1) only within the 2 years beginning on the day specified in the declaration as the day (or the first day) of the event for which the fund is to provide relief.

Note: A public fund may also be established for disaster relief of people in Australia (see item 4.1.5 of the table in section 30-45).