Tax Laws Amendment (Gifts) Act 2015

(177 of 2015)

An Act to amend the law relating to taxation, and for related purposes

[Assented to 11 December 2015]

The Parliament of Australia enacts:

1   Short title

This Act may be cited as the Tax Laws Amendment (Gifts) Act 2015.

2   Commencement

 

(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.

      

(2) Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.

3   Schedules

Legislation that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

Schedule 1   Deductible gift recipients

Income Tax Assessment Act 1997

1   Subsection 30-80(2) (at the end of the table)

Add:

2   Section 30-105 (at the end of the table)

Add:

3   Section 30-315 (after table item 63)

Insert:

4   Section 30-315 (after table item 73)

Insert: