Document ID: chunk:federal_register_of_legislation:C2025C00029:section:4:p5
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 4 (pt 5/8)
Character Range: 673812–676701

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.

30‑243  Amount of the deduction
 (1) If the contribution or gift is money, the amount of the deduction is the amount of money.
 (2) If the contribution or gift is property, the amount of the deduction is the lesser of:
 (a) the market value of the property on the day that you made the contribution or gift; and
 (b) the amount that you paid for the property.

$1,500 limit on deductions
 (3) You cannot deduct more than $1,500 under this Subdivision for an income year for contributions and gifts to political parties.
 (4) You cannot deduct more than $1,500 under this Subdivision for an income year for contributions and gifts to *independent candidates or *independent members.

30‑244  When an individual is an independent candidate
 (1) An individual is an independent candidate if:
 (a) the individual is a candidate in an election (including an election that is later declared void) for members of the Commonwealth Parliament, a State Parliament, the Legislative Assembly of the Northern Territory or the Legislative Assembly for the Australian Capital Territory; and
 (b) the individual's candidature is not endorsed by a political party that is registered under Part XI of the Commonwealth Electoral Act 1918 or under corresponding State or Territory legislation.
 (2) However, an individual does not start being an *independent candidate until the candidates for the election are declared or otherwise publicly announced by an entity authorised under the relevant electoral legislation.
 (3) An individual stops being an *independent candidate when the result of the election is declared or otherwise publicly announced by an entity authorised under the relevant electoral legislation.
 (4) If:
 (a) the election is taken to have wholly failed under the relevant electoral legislation; and
 (b) the result of the election has not been declared or otherwise publicly announced by an entity authorised under the relevant electoral legislation;
the individual stops being an *independent candidate in that election when candidates for the replacement election are declared or otherwise publicly announced by an entity authorised under the relevant electoral legislation.

30‑245  When an individual is an independent