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
2 After section 30-35
Insert:
30-37 Scholarship etc. funds
For the purposes of item 2.1.13 of the table in subsection 30-25(1), a scholarship, bursary or prize is one to which this section applies if:
(a) it may only be awarded to Australian citizens, or permanent residents of Australia, within the meaning of the Australian Citizenship Act 1948; and
(b) it is open to individuals or groups of individuals throughout a region of at least 200,000 people, or throughout at least an entire State or Territory; and
(c) it promotes recipients' education in either or both of the following:
(i) *pre-school courses, *primary courses, *secondary courses or *tertiary courses;
(ii) educational institutions overseas, by way of study of a component of a course covered by subparagraph (i); and
(d) it is awarded on merit or for reasons of equity.