Document ID: chunk:federal_register_of_legislation:C2025A00016:clause:3_8
Version: federal_register_of_legislation:C2025A00016
Segment Type: clause
Provision Reference: sch 3 cl 8
Character Range: 158900–159681

8  Subsection 302Q(2)
Repeal the subsection, substitute:
 (2) If subparagraph (1)(b)(i) applies, the amount or value by which the gift exceeds the annual gift cap, the by‑election gift cap or the Senate‑only election gift cap (as the case may be) (determined at the time the gift is made):
 (a) is payable by the gift recipient to the Commonwealth; and
 (b) may be recovered by the Commonwealth as a debt due to the Commonwealth by action in a court of competent jurisdiction.
 (3) If subparagraph (1)(b)(ii) applies, the amount or value of the gift (determined at the time the gift is made):
 (a) is payable by the gift recipient to the Commonwealth; and
 (b) may be recovered by the Commonwealth as a debt due to the Commonwealth by action in a court of competent jurisdiction.