Law Companion Ruling

LCR 2020/1A2 - Addendum

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Addendum

This Addendum amends Law Companion Ruling LCR 2020/1 to further clarify that certain gifts to deductible gift recipients, that are treated as consideration for a supply, do not have to be tax deductible for the donor.

LCR 2020/1 is amended as follows:

1. Paragraph 19

(a)  In the third dot point, omit the first dashed point, excluding footnote 15; substitute:

-

certain gifts received by a deductible gift recipient¹⁵

(b)  At the end of footnote 15, insert 'See paragraph 22 and footnotes 23A and 24 of this Ruling.'

(c)  At the end of footnote 16, insert 'For the meaning of deductible gift recipient, see footnote 24 of this Ruling.'

This Addendum applies on and from 7 May 2020.

Commissioner of Taxation
10 May 2020

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References

ATO references:
NO 1-LEOP2KG

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