Second Reading Speech
Mr Hawke(Assistant Minister to the Treasurer)I move:
That this bill be now read a second time.
This bill amends Division 30 of the Income Tax Assessment Act 1997 to add two entities as deductible gift recipient specific listings from 1 January 2015: National Apology Foundation Ltd and International Jewish Relief Limited.
The National Apology Foundation Ltd will endeavour to sustain the spirit and the substance of the National Apology to Indigenous Australians to future generations of Australians.
The International Jewish Relief Limited helps impoverished and struggling Jews, and strengthening Jewish response to worldwide humanitarian crises and disasters to communities regardless of religion and geography.
By obtaining deductible gift recipient status, these entities will be able to attract additional public financial support for their activities, as taxpayers can claim an income tax deduction for certain gifts to deductible gift recipients.
Full details of the measure are contained in the explanatory memorandum.
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