Document ID: chunk:federal_register_of_legislation:C2004C00927:clause:1_1
Version: federal_register_of_legislation:C2004C00927
Segment Type: clause
Provision Reference: sch 1 cl 1
Character Range: 88481–91572

1                                  A fund, authority or institution covered by an item in any of the tables in Subdivision 30-B.                               A gift of:                                                                                                                                                                             (a) if the gift is money—the amount you are giving; or                                                                                                                                                 (a) the fund, authority or institution must be in Australia; and
                                                                                                                                                               (a) money; or                                                                                                                                                                          (b) if the gift is property (except *trading stock covered by paragraph (c))—the lesser of the market value of the property on the day you made the gift and the amount you paid for the property; or  (b) the value of the gift must be $2 or more; and
                                                                                                                                                               (b) property (including *trading stock) that you purchased during the 12 months before making the gift; or                                                                             (c) if the gift is an item of your *trading stock:                                                                                                                                                     (c) any conditions set out in the relevant table item in Subdivision 30-B must be satisfied.
                                                                                                                                                               (c) an item of your *trading stock if:                                                                                                                                                  that you disposed of outside the ordinary course of your *business; and
                                                                                                                                                                the gift is a disposal of the item outside the ordinary course of your *business; and                                                                                                 for which no election has been made, or is made, in relation to the item under Subdivision 385-E;
                                                                                                                                                                no election has been made, or is made, in relation to the item under Subdivision 385-E (about electing to spread or defer profit from the forced disposal or death of *live stock).   the market value of the item on the day you made the gift.