Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 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.

  (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.

  (3)   The value of the contribution or gift must be at least $2.

  (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.

  (4)   You cannot deduct a testamentary contribution or gift under this Subdivision.

  (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

  (ii)   the individual comes up for election;

    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.