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  

SECTION 30-5   How to find your way around this Division  

30-5(1)  


You should start at Subdivision 30-A unless you are making a contribution or gift to a political party, independent candidate or member.
Note:

Subdivision 30-DA deals with the deductibility of contributions and gifts to political parties, independent candidates and members.

30-5(2)  
Subdivision 30-A contains a table of all the gifts and contributions that you can deduct. You need to look at the table to see whether the type of gift or contribution you are making is covered by it.

30-5(3)  
In some cases, the table sends you off to Subdivision 30-B . It has a number of tables that list particular funds, authorities or institutions that deductible gifts can be made to.

30-5(4)  
In other cases, the table sends you off to Subdivision 30-C . It contains rules that apply to particular gifts of property.

30-5(4AA)  


Subdivision 30-BA provides for the Commissioner to endorse as a deductible gift recipient an entity that is, or operates, a fund, authority or institution. The relevance of the Subdivision to you is that generally you can deduct only a gift you make to a recipient that is endorsed or named in:


(a) this Division; or


(b) regulations made for the purposes of this Division.

Note:

The fact that gifts to a recipient registered in the Australian Business Register are deductible will be shown in the Register.

30-5(4AB)  


Subdivision 30-CA sets out administrative rules which do not directly affect whether you can deduct a gift you make. The rules require:


(a) a receipt issued by an entity for a gift to the entity or to a fund, authority or institution operated by the entity to show the entity ' s ABN; and


(b) the Australian Business Registrar to enter in the Australian Business Register a statement in relation to an entity entered in the Register if:


(i) gifts to the entity are deductible; or

(ii) gifts to a fund, authority or institution operated by the entity are deductible.

30-5(4B)  


Subdivision 30-DB allows you to spread deductions for certain gifts and covenants over up to 5 income years.

30-5(5)  


Subdivision 30-E requires the establishment of a register of * environmental organisations. Subdivision 30-EA requires the establishment of a register of * harm prevention charities. Subdivision 30-F requires the establishment of a register of * cultural organisations. Their only relevance to you is that you can deduct a gift that you make to a fund listed on one of those registers.

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