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

Schedule 1   Political contributions and gifts

Income Tax Assessment Act 1997

18   After subsection 110-55(9E)

Insert:

(9F) Expenditure doesnot form part of the reduced cost base to the extent that section 26-22 prevents it being deducted.

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