Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2:p1
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2 (pt 1/2)
Character Range: 495896–501441

2                                  An *ancillary fund established and maintained under a will or instrument of trust solely for:                               A gift of:                                                                                                                                                                                                           (a) if the gift is money—the amount you are giving; or                                                                                                                                                                                                                                                                                                                                             (a) the value of the gift must be $2 or more; and
                                   (a) the purpose of providing money, property or benefits:                                                                   (a) money; or                                                                                                                                                                                                        (b) if the gift is property (except trading stock covered by paragraph (c), property covered by paragraph (d) or shares covered by paragraph (e))—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 terms of the will or trust must allow the trustee to invest money that the ancillary fund receives because of the gift only in a way that an *Australian law allows trustees to invest trust money; and
                                    to a fund, authority or institution gifts to which are deductible under item 1 of this table; 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) the ancillary fund must meet the requirements of section 30‑17; and
                                    for any purposes set out in the item of the table in Subdivision 30‑B that covers the fund, authority or institution; or  (c) an item of your trading stock if:                                                                                                                                                                                 that you disposed of outside the ordinary course of your business; and                                                                                                                                                                                                                                                                                                                           (d) if the property is to be valued by the Commissioner—the requirements of section 30‑212 are satisfied.
                                                                                                                                                                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); or                              the market value of the item on the day you made the gift; or
                                                                                                                                                               (d) property valued by the Commissioner at more than $5,000; or
                                   (b) the establishment of such a fund, authority or institution.                                                             (e) *shares that you have acquired in a *listed public company if:                                                                                                                                                   (d) if the gift is property valued by the Commissioner at more than $5,000 and you did not purchase the property during the 12 months before making the gift—the value of the property as determined by the Commissioner; or
                                                                                                                                                                the shares are listed for quotation in the official list of a stock exchange that is listed under the heading "Australia" in regulations made for the purposes of the definition of *approved