Treasury Laws Amendment (Delivering an Efficient and Trusted Tax System) Act 2026 (58 of 2026)

Schedule 1   Removing the $2 threshold for deductions for gifts or contributions

Income Tax Assessment Act 1997

6   Section 30-15 (table item 8, column headed "Special conditions", paragraph (b))

Repeal the paragraph, substitute:

(b) if:

· instead of making the contribution you had made a gift of money to the fund, authority or institution; and

· the gift had been made for the same purpose for which funds were to be raised by the fund-raising event;

you could have deducted the gift under item 1 or 2 of this table; and