Treasury Laws Amendment (Refining and Improving Our Tax System) Act 2023 (40 of 2023)

Schedule 3   DGR registers reform

Part 4   Overseas aid

Income Tax Assessment Act 1997

18   Section 30-85

Repeal the section, substitute:

30-85 Developing country relief funds

(1) For the purposes of item 9.1.1 of the table in subsection 30-80(1), a country is covered by this section if:

(a) it is included in the list of official development assistance recipients published from time to time by the Organisation for Economic Co-operation and Development's Development Assistance Committee; or

(b) it is specified in a declaration under subsection (2) of this section.

(2) For the purposes of paragraph (1)(b), the *Foreign Affairs Minister may, by legislative instrument, make a declaration specifying a country as a developing country.