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.

View surrounding sectionsView surrounding sectionsBack to top


This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.