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.
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