Tax Laws Amendment (Political Contributions and Gifts) Act 2010 (16 of 2010)

Schedule 1   Political contributions and gifts

Income Tax Assessment Act 1997

17   At the end of section 110-38

Add:

(6) Expenditure doesnot form part of any element of the cost base to the extent that section 26-22 prevents it being deducted.

Note: Section 26-22 denies deductions for political contributions and gifts.