Senate debates

Thursday, 25 February 2010

Tax Laws Amendment (Political Contributions and Gifts) Bill 2008

Returned from the House of Representatives

Consideration resumed from 22 June 2009.

House of Representatives message—

That the Senate’s amendments (1) to (22) be disagreed to, but that, in place thereof, the Bill be amended as follows:

(1)    Schedule 1, items 1 to 7, page 3 (line 4) to page 7 (line 7), omit the items.

(2)    Schedule 1, item 8, page 7 (lines 9 and 10), omit the item, substitute:

8  Section 12-5 (table item headed “political parties”)

Repeal the item, substitute:

political contributions and gifts

denial of certain deductions.

26-22

Deductions for individuals...

Subdivision 30-DA

(3)    Schedule 1, item 9, page 7 (line 15), after “under this Act”, insert “(other than Subdivision 30-DA)”.

(4)    Schedule 1, items 10 to 16, page 8 (line 26) to page 9 (line 8), omit the items, substitute:

10  After subsection 30-242(3)

Insert:

     (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.

(5)    Schedule 1, items 19 and 20, page 9 (lines 19 to 22), omit the items.

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