Document ID: chunk:federal_register_of_legislation:C2010C00613:clause:7_8
Version: federal_register_of_legislation:C2010C00613
Segment Type: clause
Provision Reference: sch 7 cl 8
Character Range: 33422–39341

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 $250; and                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           10% of the amount of the contribution; and
                                                                                                                (b) the contribution is not a gift; and                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         $100; and
                                                                                                                (c) you made the contribution by way of consideration for the supply of goods or services; and                                                                                                                                                                                                                                                                                                                                                                                                                                                                             (b) if, instead of making the contribution, you had made a gift of money to the fund, authority or institution, and:
                                                                                                                (d) you made the contribution because you were the successful bidder at an auction that:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        the amount of the gift had been more than $2; and
                                                                                                                    was a particular *fund‑raising event in Australia; or                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      the gift had been made for the same purpose for which funds were to be raised by the fund‑raising event;
                                                                                                                    was held at a particular fund‑raising event in Australia; and                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          you could have deducted the gift under item 1 or 2 of this table; and
                                                                                                                (e) the amount of the contribution exceeds the *GST inclusive market value, on the day you made the contribution, of the goods or services.                                                                                                                                                                                                                                                                                                                                                                                                                                (c) you must be an individual.