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-DB - Spreading certain gift and covenant deductions over up to 5 income years  

Operative provisions

SECTION 30-249C   Requirements - certain cultural property gifts  

30-249C(1)  
This section applies if you make an election for a gift covered by item 4 or 5 of the table in section 30-15 .

30-249C(2)  
You must give a copy of the election to the * Arts Secretary before you lodge your * income tax return for the income year in which you made the gift.

30-249C(3)  
If you vary the election, you must give a copy of the variation to the * Arts Secretary before you lodge your * income tax return for the first income year to which the variation applies.

30-249C(4)  
The election and any variation must be in a form approved in writing by the * Arts Secretary.


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