Document ID: chunk:federal_register_of_legislation:C2025C00029:section:8:p1
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 8 (pt 1/28)
Character Range: 531996–539964

8                                  A *deductible gift recipient that is a fund, authority or institution covered by item 1 or 2 of this table.                 A contribution of money, if:                                                                                                                                                                                         The amount of the contribution, reduced by the GST inclusive market value, on the day you made the contribution, of the goods or services.                                                                                                                                                                                                                                                         (a) the GST inclusive market value, on the day you made the contribution, of the goods or services must not exceed the lesser of:
                                                                                                                                                               (a) the amount is more than $150; and                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    20% of the amount of the contribution; and
                                                                                                                                                               (b) the contribution is not a gift; and                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  $150; and
                                                                                                                                                               (c) you made the contribution by way of consideration for the supply of goods or services; and
                                                                                                                                                               (d) you made the contribution because you were the successful bidder at an auction that:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                (b) if, instead of making the contribution, you had made a gift of money to the fund, authority or institution, and:
                                                                                                                                                                was a particular *fund‑raising event in Australia; or                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  the amount of the gift had been more than $2; and
                                                                                                                                                                was held at a particular fund‑raising event in Australia; and                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          the gift had been made for the same purpose for which funds were to be raised by the fund‑raising event;
                                                                                                                                                               (e) the amount of the contribution exceeds the *GST inclusive market value, on the day you made the contribution, of the goods or services.                                                                                                                                                                                                                                                                                                                                                                                                                                                                              you could have deducted the gift under item 1 or 2 of this table; and
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       (c) you must be an individual.

 (3) For the purposes of items 4, 5 and 6 of the table in subsection (2), the *GST inclusive market values of the property or place in question are reduced by 1/11 if you would have been entitled to an *input tax credit if:
 (a) you had *acquired the property or place at the time you made the gift; and
 (b) your acquisition had been for a *creditable purpose.
 (4) For the purposes of item 7 of the table in subsection (2), in working out the *GST inclusive market value of the right in question, disregard anything that would prevent or restrict conversion of the right to money.
 (5) For the purposes of item 8 of the table in subsection (2), in working out the *GST inclusive market value of the goods or services in question, disregard anything that would prevent or restrict conversion of the goods or services to money.

30‑17  Requirements for certain recipients
 (1) This section sets out requirements to be met for you to be able to deduct a gift you make to a fund, authority or institution described in the column headed "Recipient" of item 1, 2 or 4 of the table