Income Tax Assessment Act 1997
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Hide history noteSECTION 30-242 Deduction for political contributions and gifts 30-242(1)
You can deduct any of the following for the income year in which they are made:
(a) a contribution or gift to a political party that is registered under Part XI of the Commonwealth Electoral Act 1918 or under corresponding State or Territory legislation;
(b) a contribution or gift to an individual when the individual is an *independent candidate for a Commonwealth, State, Northern Territory or Australian Capital Territory election;
(c) a contribution or gift to an individual who is, or was, an *independent member of the Commonwealth Parliament, a State Parliament, the Legislative Assembly of the Northern Territory or the Legislative Assembly for the Australian Capital Territory.
30-242(2)
The contribution or gift must be of:
(a) money; or
(b) property that you purchased during the 12 months before making the contribution or gift.
30-242(3)
The value of the contribution or gift must be at least $2.
30-242(3A)
You can deduct the contribution or gift only if:
(a) you are an individual; and
(b) you do not make the gift or contribution in the course of carrying on a *business.
30-242(4)
You cannot deduct a testamentary contribution or gift under this Subdivision.
30-242(5)
A contribution or gift to an individual who is, or was, an *independent member must be made:
(a) when the individual is an independent member; or
(b) if the individual ceases to be an independent member because:
(i) a Parliament, a House of a Parliament or a Legislative Assembly is dissolved or has reached its maximum duration; or
after the individual ceases to be a member but before candidates for the resulting election are declared or otherwise publicly announced by an entity authorised under the relevant electoral legislation.
(ii) the individual comes up for election;
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