Document ID: chunk:federal_register_of_legislation:C2025A00016:clause:3_1:p1
Version: federal_register_of_legislation:C2025A00016
Segment Type: clause
Provision Reference: sch 3 cl 1 (pt 1/2)
Character Range: 121876–124448

1  Section 302B
Insert:
acceptable donor action is taken in relation to a gift that exceeds the annual gift cap for a calendar year, the overall gift cap for a calendar year, the State and Territory gift cap for a calendar year, the by‑election gift cap or the Senate‑only election gift cap (whichever is applicable) if the donor, in writing, requests the person or entity to which the gift was made to return to the donor:
 (a) the gift; or
 (b) an amount equal to the amount or value by which the gift exceeds the applicable gift cap.
acceptable recipient action is taken in relation to a gift that exceeds the annual gift cap for a calendar year, the by‑election gift cap or the Senate‑only election gift cap (whichever is applicable) if:
 (a) the gift, or an amount equal to the amount or value by which the gift exceeds the applicable gift cap, is returned by, or on behalf of, the recipient to the donor; or
 (b) an amount equal to the amount or value of the gift, or the amount or value by which the gift exceeds the applicable gift cap, is transferred by, or on behalf of, the recipient to the Commonwealth, for the purposes of this Division.
annual gift means a gift to which Subdivision AA applies under subsection 302CB(1).
annual gift cap, for a calendar year, means $50,000.
Note 1: This amount is indexed under section 321A.
Note 2: The annual gift cap for a calendar year resets if a general election is held in the calendar year (see section 302CG).
by‑election gift means a gift to which Subdivision AA applies under subsection 302CB(2).
by‑election gift cap means $50,000.
Note 1: This amount is indexed under section 321A.
Note 2: The by‑election gift cap has effect only during the election period for a by‑election (see subsection 302CB(2)).
Note 3: A gift made to a person or entity for the purposes of a by‑election is not counted for the purposes of the annual gift cap, the overall gift cap or the State and Territory gift cap for the calendar year in which the by‑election is held (see section 302CB).
connected has the meaning given by subsection 302CJ(2).
exceeds the annual gift cap has the meaning given by subsection 302BA(1).
exceeds the by‑election gift cap has the meaning given by subsection 302BA(2).
exceeds the overall gift cap has the meaning given by subsections 302CI(2) and (3).
exceeds the Senate‑only election gift cap has the meaning given by subsection 302BA(3).
exceeds the State and Territory gift cap has the meaning given by subsections 302CJ(3) and (4).
overall gift cap for a calendar year means 32 times the annual gift