Tax Laws Amendment (2008 Measures No. 4) Act 2008 (97 of 2008)

Schedule 3   Minor amendments

Part 1   General amendments

Income Tax Assessment Act 1997

65   Subsection 30-230(6)

Repeal the subsection, substitute:

(6) If:

(a) you die before the last day of an income year; and

(b) section 26-55 (which is about a limit on deductions) prevents the whole or a part of the gift from being deductible in the *income tax return lodged for you for that income year;

the trustee of your estate can claim the whole or part as a deduction in the trust's income tax return for that income year.

Note: The trust's income tax return covers the period from the day you die to the end of the income year.