Commonwealth Consolidated Acts Commonwealth Consolidated Acts8. Section 78 of the Principal Act is repealed and the following section is
Deduction for gifts, pensions etc.
"78.(1) The object of this section is to provide for the deductibility of
certain gifts, contributions, pensions, gratuities and retiring allowances.
"(2) The following table sets out an outline of this section:
Gifts to certain funds, authorities or institutions
Gifts to The Australiana Fund, libraries, museums or art galleries
Gifts of heritage properties to National Trust
Contributions to registered political parties
Pensions, gratuities or retiring allowances for ex-employees etc.
"(3) The following is an index to this section:
Academy of the Social Sciences in Australia Incorporated
Apportionment of deductions under subsection (6), (7) or (8)
Approved research institutes-section 73A
(4)-Table 12, items 12.1.4 and 12.1.5; (6)
Australian Academy of Technological Sciences and Engineering Limited
Australian Academy of the Humanities for the Advancement of
Scholarship in Language, Literature, History, Philosophy and the
Australian Administrative Staff College
(4)-Table 12, item 12.2.1; (6)
Australian and New Zealand Association for the Advancement of Science
Australian College of Obstetricians and Gynaecologists
Australian College of Occupational Medicine
Australian Conservation Foundation Incorporated
Australian Institute of International Affairs
Australian National Travel Association
Australian Postgraduate Federation in Medicine
Australian Regional Council of the Royal College of Obstetricians and
Centre for Independent Studies
Child Accident Prevention Foundation of Australia
College of Radiologists in Australasia
Conditional gifts-subsection (6), (7) or (8)
Council for Christian Education in Schools
Council for Jewish Education in Schools
Diseases-institutions researching causes, prevention or cure
(4)-Table 1, items 1.1.4 and 1.1.5
Foundation for Development Cooperation Ltd
Friends of the Duke of Edinburgh's Award in Australia Incorporated
(4)-Table 10, items 10.2.2 and 10.2.3
Herbert Vere Evatt Memorial Foundation Incorporated
(4)-Table 1, items 1.1.1 and 1.1.2
H.R.H. The Duke of Edinburgh's Commonwealth Study Conferences
Ian Clunies Ross Memorial Foundation
Industrial Design Council of Australia
Joint ownership of property-subsection (6), (7) or (8)
(4)-Table 12, items 12.1.2 and 12.1.5; (6)
Marcus Oldham Farm Management College
Marriage guidance organisations
(4)-Table 12, items 12.1.3 and 12.1.5; (6)
National Foundation for Australian Women Limited
National Safety Council of Australia
Necessitous circumstances-funds for relief of persons in
New South Wales College of Nursing
Nursing Mothers' Association of Australia
Pearl Watson Foundation Limited
Prevention of cruelty to animals
Productivity Promotion Council of Australia
Public benevolent institutions
Queen Elizabeth II Silver Jubilee Trust for Young Australians
Queen Elizabeth the Second Coronation Gift Fund
Religious instruction/education
Residential education institutions
Retiring allowances for ex-employees
Royal Australian and New Zealand College of Psychiatrists
Royal Australian College of General Practitioners
Royal Australasian College of Physicians
Royal Australasian College of Surgeons
Royal College of Nursing, Australia
Royal College of Pathologists of Australasia
(4)-Table 10, items 10.2.4 and 10.2.5
Shrine of Remembrance Restoration and Development Trust
Sir Robert Menzies Memorial Trust Foundation Limited
Winston Churchill Memorial Trust
Work Skill Australia Foundation Incorporated
World Wide Fund for Nature Australia
Deductions for gifts-listed funds, authorities and institutions
"(4) A gift by a taxpayer to a fund, authority or institution mentioned in
any of the following tables is an allowable deduction for the year of income
in which the gift was made if:
(a) the fund, authority or institution is in Australia; and
(ii) property that was purchased by the taxpayer during the 12
months before the gift was made; or
(iii) property that is trading stock of the taxpayer to which
subsection 36(1) applies, where the taxpayer has not made, and does not make,
an election under subsection 36 (3) or section 36AAA in relation to the
(c) the value of the gift is $2 or more; and
(d) the gift is not a testamentary gift; and
(e) if one or more special conditions are set out in the table opposite the
name of the fund, authority or institution-those conditions are satisfied;
(f) if the gift is property-a deduction is not allowable to the taxpayer
under subsection (6), (7) or (8) in respect of the gift.
Each item is independent of every other item.
Fund, authority or institution
a hospital carried on by a society or association otherwise than
for the purposes of profit or gain to the individual members of
a public fund established before 23 October 1963 and maintained
for the purpose of providing money for hospitals covered by items
1.1.1 or 1.1.2 or for the establishment of such hospitals
a public authority engaged in research into the causes, prevention
or cure of disease in human beings, animals or plants
the gift must be for such research
a public institution engaged solely in research into the causes,
prevention or cure of disease in human beings, animals or plants
the Australian College of Obstetricians and Gynaecologists
the Australian College of Occupational Medicine
the Australian Postgraduate Federation in Medicine
the gift must be made for education or research in medical
the College of Radiologists in Australasia
the gift must be made for education or research in medical
the New South Wales College of Nursing
the Royal Australian and New Zealand College of Psychiatrists
the Royal Australian College of General Practitioners
the gift must be made for education or research in medical
the Royal Australasian College of Physicians
the Royal Australasian College of Surgeons
the Royal College of Pathologists of Australasia
the gift must be made for education or research in medical
the Australian Regional Council of the Royal College of
Obstetricians and Gynaecologists
the Royal College of Nursing, Australia
Fund, authority or institution
a public fund for the establishment of a public university
a higher education institution within the meaning of the
Employment, Education and Training Act 1988
a residential educational institution affiliated under statutory
provisions with a public university
a residential educational institution established by the
residential educational institution that is affiliated with a
higher education institution within the meaning of the Employment,
Education and Training Act 1988
an institution that is certified by the Minister for Employment,
Education and Training, by signed instrument, to be a technical
and further education institution within the meaning of the
Employment, Education and Training Act 1988
the gift must be for certified purposes of the institution
or for the provision of certified facilities for the
institution (see subsection (26))
a public fund established and maintained exclusively for the
purpose of providing religious instruction in government schools
a public fund established and maintained by a Roman Catholic
archdiocesan or diocesan authority exclusively for the purpose of
providing religious instruction in government schools in Australia
a public fund established and maintained exclusively for providing
money for the acquisition, construction or maintenance of a
building used, or to be used, as a school or college by:
(c) a society or association which is carried on otherwise than
for the purposes of profit or gain to the individual members of
a public fund established and maintained exclusively for providing
money for the acquisition, construction or maintenance of an
eligible rural school hostel building (see subsection (26))
The Academy of the Social Sciences in Australia Incorporated
the Australian Academy of Science
the Australian Academy of the Humanities for the Advancement of
Scholarship in Language, Literature, History, Philosophy and the
the Australian Academy of Technological Sciences and Engineering
the Australian Administrative Staff College
the Australian and New Zealand Association for the Advancement of
a company that conducts life education programs under the auspices
(a) the gift must be for the conduct of such programs; and
(b) the company must not be carried on for the purposes of
profit or gain to its individual members; and
(c) the company must, by the terms of the company's
constituent document, be prohibited from making any
distribution, whether in money, property or otherwise, to its
the Council for Christian Education in Schools
the Council for Jewish Education in Schools
H.R.H. The Duke of Edinburgh's Commonwealth Study Conferences
the Marcus Oldham Farm Management College
the gift must be for certified purposes of the college or for
the provision of certified facilities for the college (see
Fund, authority or institution
a university, college, institute, association or organisation
which is an approved research institute for the purposes of
the gift must be for purposes of scientific research as
the Centre for Independent Studies
the Ian Clunies Ross Memorial Foundation
the gift must be made for purposes of research in the
Australian Antarctic Territory
Fund, authority or institution
a public benevolent institution
a public fund established before 23 October 1963 and maintained
for the purpose of providing money for public benevolent
institutions or for the establishment of public benevolent
a public fund established and maintained for the relief of persons
in Australia who are in necessitous circumstances
the Child Accident Prevention Foundation of Australia
the National Foundation for Australian Women Limited
the National Safety Council of Australia
the Pearl Watson Foundation Limited
the Royal Society for the Prevention of Cruelty to Animals New
the Royal Society for the Prevention of Cruelty to Animals
the Royal Queensland Society for the Prevention of Cruelty
the Royal Society for the Prevention of Cruelty to Animals (South
the Royal Society for the Prevention of Cruelty to Animals Western
the R.S.P.C.A. (Tasmania) Incorporated
the Society for the Prevention of Cruelty to Animals (Northern
the Royal Society for the Prevention of Cruelty to Animals
the R.S.P.C.A. Australia Incorporated
Fund, authority or institution
the gift must be made for purposes of defence
a public institution established and maintained for the comfort,
recreation or welfare of members of the armed forces of any part
of Her Majesty's dominions, or of any allied or other foreign
force serving in association with Her Majesty's armed forces
the Shrine of Remembrance Restoration and Development Trust
Fund, authority or institution
a fund that, when the gift is made, is on the Register of
Environmental Organisations kept under section 78AB
the Australian Conservation Foundation Incorporated
special conditions set out in subsection (25)
special conditions set out in subsection (25)
special conditions set out in subsection (25)
the National Parks Association of New South Wales
special conditions set out in subsection (25)
the Victorian National Parks Association
special conditions set out in subsection (25)
the Victoria Conservation Trust
special conditions set out in subsection (25)
the National Parks Association of Queensland
special conditions set out in subsection (25)
The Nature Conservation Society of South Australia Incorporated
special conditions set out in subsection (25)
the National Parks Foundation of South Australia Incorporated
special conditions set out in subsection (25)
the Western Australian National Parks and Reserves Association
special conditions set out in subsection (25)
the Tasmanian Conservation Trust Incorporated
special conditions set out in subsection (25)
the National Parks Association of the Australian Capital Territory
special conditions set out in subsection (25)
the National Trust of Australia (New South Wales)
the National Trust of Australia (Victoria)
The National Trust of Queensland
The National Trust of South Australia
The National Trust of Australia (W.A.)
the National Trust of Australia (Tasmania)
The National Trust of Australia (Northern Territory)
the National Trust of Australia (A.C.T.)
the Australian Council of National Trusts
the World Wide Fund for Nature Australia
special conditions set out in subsection (25)
TABLE 7-INDUSTRY, TRADE AND DESIGN
Fund, authority or institution
the Industrial Design Council of Australia
the Productivity Promotion Council of Australia
the Work Skill Australia Foundation Incorporated
Fund, authority or institution
a public fund established and maintained exclusively for the
purpose of providing money to be used in giving marriage guidance
to persons in Australia through a voluntary organisation or
through a branch or section of such an organisation
the organisation, branch or section, as the case may be, must
be approved by the Attorney-General (see subsection (24))
the Nursing Mothers' Association of Australia
Fund, authority or institution
a public fund in respect of which there is in force, at the time
when the gift is made, a declaration under subsection (21) that
the fund is an eligible fund for the purposes of this item
the Australian Institute of International Affairs
the Australian National Travel Association
The Foundation for Development Cooperation Ltd
TABLE 10-SPORTS AND RECREATION
Fund, authority or institution
the Australian Sports Foundation
the Girl Guides Association of Australia
an institution that is known as a State or Territory branch of the
Girl Guides Association of Australia
the Scout Association of Australia
an institution that is known as a State or Territory branch of the
Scout Association of Australia
Fund, authority or institution
The Friends of the Duke of Edinburgh's Award in Australia
the Herbert Vere Evatt Memorial Foundation Incorporated
The Sir Robert Menzies Memorial Foundation Limited
the Queen Elizabeth II Silver Jubilee Trust for Young Australians
the Winston Churchill Memorial Trust
the Queen Elizabeth the Second Coronation Gift Fund
TABLE 12-CULTURAL ORGANISATIONS
Fund, authority or institution
a fund that, when the gift is made, is on the Register of Cultural
Organisations kept under section 78AA
an institution consisting of a public library, public museum and
public art gallery or of any 2 of them
Deductions for gifts-ancillary funds
"(5) A gift by a taxpayer to a fund is an allowable deduction for the year
of income in which the gift was made if:
(a) the fund is a public fund established and maintained under a will or
instrument of trust exclusively for:
(i) the purpose of providing money, property or benefits to or for
funds, authorities or institutions referred to, and for the purposes (if any)
referred to, in any of the items in the tables in subsection (4); or
(ii) the establishment of such funds, authorities or institutions;
(b) the Commissioner is satisfied that the terms of the will or instrument
of trust are such that any money (including income derived from investments
and proceeds of the realisation of investments):
(i) paid or accrued to the fund as a direct or indirect result of
(ii) not applied for the purposes of the fund;
may not be invested by the trustee otherwise than in a manner in which
trustees are permitted by an Act, a State Act or a law of a Territory to
invest trust money without special authorisation; and
(ii) property that was purchased by the taxpayer during the 12
months before the gift was made; or
(iii) property that is trading stock of the taxpayer to which
subsection 36 (1) applies, where the taxpayer has not made, and does not make,
an election under subsection 36 (3) or section 36AAA in relation to the
(d) the value of the gift is $2 or more; and
(e) the gift is not a testamentary gift; and
(f) if the gift is property-a deduction is not allowable to the taxpayer
under subsection (6), (7) or (8) in respect of the gift.
Deductions for gifts of property-Australiana Fund, libraries, museums and art
(b) a public library in Australia; or
(c) a public museum in Australia; or
(d) a public art gallery in Australia; or
(e) an institution in Australia consisting of a public library, a public
museum and a public art gallery or any 2 of them;
is an allowable deduction for the year of income in which the gift was made
(f) the gift is property (other than an estate or interest in land or in a
building or part of a building); and
(g) the value of the gift is $2 or more; and
(h) the property is given to, and accepted by, The Australiana Fund or the
authority or institution concerned for inclusion in the collection, or any of
the collections, maintained or being established by that Fund, authority or
(i) the gift is not a testamentary gift; and
(j) the special valuation conditions set out in subsection (13) are complied
Deductions for gifts of property-Artbank
"(7) A gift by a taxpayer to the Commonwealth is an allowable deduction for
the year of income in which the gift was made if:
(a) the gift is property (other than an estate or interest in land or in a
building or part of a building); and
(b) the property is given to, and accepted by the Commonwealth for inclusion
in the collection, or any of the collections, maintained or being established
for the purposes of Artbank; and
(c) the gift is not a testamentary gift; and
(d) the special valuation conditions set out in subsection (13) are complied
Deductions for gifts of heritage properties-National Trust
(a) the National Trust of Australia (New South Wales); or
(b) the National Trust of Australia (Victoria); or
(c) The National Trust of Queensland; or
(d) The National Trust of South Australia; or
(e) The National Trust of Australia (W.A.); or
(f) the National Trust of Australia (Tasmania); or
(g) The National Trust of Australia (Northern Territory); or
(h) the National Trust of Australia (A.C.T.); or
(i) the Australian Council of National Trusts;
is an allowable deduction for the year of income in which the gift was made
(k) the value of the gift is $2 or more; and
(l) the property consists of a place within the meaning of the Australian
Heritage Commission Act 1975; and
(m) at the time when the gift was made, the place was listed in the Register
of the National Estate kept under the Australian Heritage Commission Act 1975;
(n) the property was accepted by the National Trust body concerned for the
purpose of preserving the property for the benefit of the public; and
(o) the gift is not a testamentary gift; and
(p) the special valuation conditions set out in subsection (13) are complied
Deductions for contributions to political parties
"(9) A contribution by a taxpayer to a registered political party (within
the meaning of the Commonwealth Electoral Act 1918) is an allowable deduction
for the year of income in which the contribution was made if:
(ii) property that was purchased by the taxpayer during the 12
months before the contribution was made; and
(b) the value of the contribution is $2 or more; and
(c) the taxpayer is not a company; and
(d) the contribution is not a testamentary contribution.
$100 annual limit for deductions for contributions to political parties
"(10) The total deductions allowable to a taxpayer under subsection (9) in
respect of a year of income must not exceed $100.
Deductions for pensions, gratuities or retiring allowances to ex-employees
"(11) An amount paid by a taxpayer as a pension, gratuity or retiring
allowance to a person who is or was an employee or a dependant of an employee
is an allowable deduction for the year of income in which it was paid.
(a) it is an allowable deduction under this subsection only to the extent
that, in the Commissioner's opinion, it is paid in good faith in consideration
of the past services of the employee in any business operations that were
carried on by the taxpayer for the purpose of gaining or producing assessable
(b) it is not an allowable deduction under this subsection if it is an
allowable deduction under any other provision of this Act.
Value of property for the purposes of subsections (4) and (5)
"(12) For the purposes of subsections (4) and (5), the value of a gift of
(i) the property is trading stock of the taxpayer to which
subsection 36 (1) applies; and
(ii) the taxpayer has not made, and does not make, an election under
subsection 36 (3) or section 36AAA in relation to the property;
the value of the property that is, because of subsection 36 (1), included in
the taxpayer's assessable income; or
(b) in any other case-whichever is the lesser of:
(i) the value of the property at the time of the making of the gift;
(ii) the amount paid by the taxpayer for the property.
Gifts of property covered by subsections (6), (7) and (8)-special valuation
"(13) For the purposes of subsections (6), (7) and (8), a taxpayer complies
with the special valuation conditions in relation to a gift of property if:
(i) assuming that the taxpayer had sold the property instead of
making the gift, any profits or proceeds from the sale would have been
included in the taxpayer's assessable income; and
(ii) the making of the gift does not result in an amount being
included in the taxpayer's assessable income; or
(b) all of the following conditions are satisfied:
(i) the taxpayer gives the Commissioner 2 or more written valuations
stating the amount that, in the opinion of the person making the valuation,
(A) the value of the property at the time when the gift was made;
(B) if the valuation was made not earlier than 90 days (or such
longer period as the Commissioner allows) before, and not later than 90 days
(or such longer period as the Commissioner allows) after, the day on which the
gift was made-the value of the property at the time when the valuation was
(ii) the valuations are by persons each of whom was, at the time
of making the valuation, an approved valuer in relation to property of the
(iii) the written valuations are given to the Commissioner:
(A) with the taxpayer's return of income for the year of income in
(B) if more than one such return is given-with the first return;
(C) within such further period as the Commissioner allows.
Value of gift-subsections (6), (7) and (8)
"(14) Subject to subsection (15) (which deals with conditional gifts), for
the purposes of subsections (6), (7) and (8), the value of a gift of property
(i) assuming that the taxpayer had sold the property instead of
making the gift, any profits or proceeds from the sale would have been
included in the taxpayer's assessable income; and
(ii) the making of the gift does not result in an amount being
included in the taxpayer's assessable income;
(iii) if the taxpayer purchased the property-the amount paid by
the taxpayer for the property; or
(iv) if the taxpayer created or produced the property-the amount
equal to so much of the cost of creating or producing the property as would
have been allowed as a deduction to the taxpayer if the property had been sold
(b) if paragraph (a) does not apply and the taxpayer:
(i) acquired the property within 12 months before the making of the
gift otherwise than as a result of:
(A) a will, a codicil or an order of a court that varied or
modified the provisions of a will or codicil; or
(B) an intestacy or an order of a court that varied or modified
the application, in relation to the estate of a deceased person, of the
provisions of the law relating to the distribution of the estates of persons
(ii) acquired the property for the purpose of making a gift of the
property to, or subject to an eligible agreement that the property would be
(A) a Fund, authority or institution mentioned in subsection (6)
for inclusion in its collection, or any of its collections; or
(B) the Commonwealth for inclusion in the collection, or any of
the collections, of Artbank; or
(C) a body mentioned in subsection (8);
the value of the gift is whichever is the lesser of:
(iii) the amount (if any) paid by the taxpayer for the property; or
(iv) the amount that, assuming that this paragraph and subsection
(15) had not been enacted, would be the value of the gift;
(c) if neither paragraph (a) nor paragraph (b) applies:
(i) if the Commissioner is of the opinion that an amount equal to
the average of the values specified in the valuations given to the
Commissioner under subsection (13) in relation to the property fairly
represents the value of the property as at the time when the gift was made-the
value of the gift is that amount; or
(ii) in any other case-the value of the gift is the amount that
the Commissioner considers was the value of the property as at the time when
Value of conditional gift-subsections (6), (7) and (8)
"(15) For the purposes of subsections (6), (7) and (8), if:
(a) the terms and conditions on which a gift of property is made are such
(i) receive immediate custody and control of the property; or
(ii) have the unconditional right to retain custody and control
of the property in perpetuity; or
(iii) obtain an immediate, indefeasible and unencumbered legal
and equitable title to the property; or
(b) the Commissioner is satisfied that the custody, control or use of the
property by the recipient is affected by an eligible agreement entered into in
association with the making or receipt of the gift;
the value of the gift is the value worked out under subsection (14), reduced
by such amount as the Commissioner considers reasonable having regard to the
effect on the value of the gift of those terms and conditions or of that
Apportionment of deduction under subsection (6), (7) or (8)-joint ownership
(a) a taxpayer (the 'first taxpayer') owns property jointly with one or more
(b) the owners make a gift of the property; and
(i) the property had been owned by the first taxpayer alone; and
(ii) the gift had been made by the first taxpayer;
the gift would have been an allowable deduction under subsection (6), (7) or
the first taxpayer is entitled to an allowable deduction of so much of the
amount of the deduction that would have been allowable as mentioned in
paragraph (c) as the Commissioner considers reasonable having regard to the
interest of the taxpayer in the property.
Value of property for the purposes of subsection (9)
"(17) For the purposes of subsection (9), the value of a contribution of
property is whichever is the lesser of:
(a) the value of the property at the time of the contribution; or
(b) the amount paid by the taxpayer for the property.
"(18) The Secretary to the Department of the Arts and Administrative
Services may, by signed instrument, approve a person as a valuer in relation
to a particular kind of property. In deciding whether to give an approval,
the Secretary to that Department must have regard to:
(a) the person's qualifications, experience and knowledge in relation to the
valuation of property of that kind; and
(b) the person's knowledge of current market values of property of that
(c) the person's standing in the professional community; and
(d) any other matters that the Secretary to that Department considers
Approval of organisations for the purposes of eligible funds declaration
"(19) The Minister for Foreign Affairs may, by signed instrument, approve an
organisation as an approved organisation for the purposes of subsection (21).
Certification of country for the purposes of eligible funds declaration
"(20) The Minister for Foreign Affairs may, by signed instrument, certify a
country to be a developing country for the purposes of subsection (21).
"(21) If the Treasurer is satisfied that a fund:
(a) is a fund established by an approved organisation (whether or not the
organisation was an approved organisation at the time when the fund was
(b) is exclusively for the relief of persons in a certified country or
certified countries (whether or not that country was a certified country, or
those countries were certified countries, at the time when the fund was
the Treasurer may, by notice in the Gazette, declare it to be an eligible fund
for the purposes of item 9.1.1 of table 9 in subsection (4).
Eligible funds declaration-effective date
"(22) A notice under subsection (21) must specify the date on which the
notice has effect. The date must not be earlier than the date on which the
notice is published in the Gazette.
Revocation of eligible funds declaration
"(23) The Treasurer may, by notice in the Gazette, revoke a declaration
under subsection (21). The notice of revocation must specify the date on
which it has effect. The date of effect must not be earlier than the date on
which the notice of revocation is published in the Gazette.
Approval of marriage guidance organisations
"(24) If the Attorney-General is satisfied that:
(a) an organisation, or a branch or a section of an organisation, is willing
and able to engage in marriage guidance; and
(b) marriage guidance constitutes, or will constitute, the whole or the
major part of the activities of the organisation, branch or section, as the
the Attorney-General may, by signed instrument, approve the organisation,
branch or section, as the case may be, for the purposes of item 8.1.1 of table
Special conditions applicable to gifts made to certain environmental bodies
"(25) The following are the special conditions mentioned in various items in
(a) at the time the gift is made, the institution must have agreed to give
to the Department of the Environment, Sport and Territories, within a
reasonable period after the end of the financial year in which the gift was
made, statistical data about gifts made to the institution during the
(b) at the time the gift is made, the institution must have a policy of not
acting as a mere conduit for the donation of money or property to other
institutions, bodies or persons.
'approved organisation' means an organisation approved under subsection
'approved valuer', in relation to a particular kind of property, means a
person in respect of whom there is in force under subsection (18) an approval
of the person as a valuer in relation to that kind of property;
'certified country' means a country certified under subsection (20) to be a
developing country for the purposes of this section;
'certified facilities', in relation to a college or institution, means
facilities (including residential accommodation) in respect of which the
Minister for Employment, Education and Training has certified, by signed
instrument, that he or she is satisfied are, or are to be, used wholly or
principally for certified purposes of the college or institution;
'certified purposes', in relation to a college or institution, means
purposes of the college or institution that have been certified by the
Minister for Employment, Education and Training, by signed instrument, to
relate exclusively to tertiary education;
'eligible agreement' means an agreement, arrangement or understanding:
(a) whether formal or informal; and
(b) whether express or implied; and
(c) whether or not enforceable by legal proceedings (whether or not the
agreement, arrangement or understanding was intended to be so enforceable);
'eligible rural school hostel building' means a building where:
(a) the building is used, or to be used, solely or principally as a
residential accommodation for students whose usual place of residence is in a
rural area and who are undertaking:
(i) primary or secondary education courses; or
(ii) special education programs for children with disabilities;
at a school or schools in the same locality as the residential accommodation;
(b) the capital or recurrent costs of the school or schools are funded (in
whole or in part) by the Commonwealth, a State or a Territory; and
(c) the residential accommodation is provided by:
(i) the Commonwealth, a State or a Territory; or
(A) is not carried on for the purposes of profit or gain to its
(B) is, by the terms of the company's constituent document,
prohibited from making any distribution, whether in money, property or
'property' does not include money;
'value', in relation to money, means the amount of money.".
Subdivision B - Consequential amendments