Document ID: chunk:federal_register_of_legislation:C2025A00016:clause:3_302cg
Version: federal_register_of_legislation:C2025A00016
Segment Type: clause
Provision Reference: sch 3 cl 302CG
Character Range: 149733–150396

302CG  Annual gift cap resets if general election is held in calendar year
 (1) If a general election is held in a calendar year, then, in determining for the purposes of a provision of this Part whether an annual gift exceeds the annual gift cap, the following periods in the calendar year are taken to be different calendar years:
 (a) the period ending on the day that is 30 days after the writs for the general election are returned;
 (b) the period starting immediately after that period ends.
 (2) Subsection (1) does not apply if the period mentioned in paragraph (1)(a) ends after the end of the calendar year.

Subdivision AB—Receipts for certain gifts