Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992 - SECT 7

7. Section 78 of the Principal Act is amended:
(a) by omitting from subparagraph (1)(a)(cvii) "register" and substituting

"Register of Cultural Organisations";

   (b)  by inserting after subparagraph (1)(a)(cvii) the following
        subparagraphs:

"(cviii) The Australia-United States Coral Sea Commemorative Council Inc.;

   (cix) a fund that, when the gift is made, is on the Register of
        Environmental Organisations kept under section 78AB;";

   (c)  by inserting after subsection (5) the following subsection:

"(6) A deduction is not allowable under subparagraph (1)(a)(xliv), (xlvii),
(lxxiii), (lxxiv) or (civ) for a gift made to an institution during the
financial year commencing on 1 July 1993 or a later financial year unless, at
the time the gift is made:

   (a)  the institution has agreed to give to the Department of the Arts,
        Sport, the Environment and Territories, within a reasonable period
        after the end of the financial year, statistical data about gifts made
        to the institution during the financial year; and

   (b)  the institution has a policy of not acting as a mere conduit for the
        donation of money or property to other institutions, bodies or
        persons.";

   (d)  by inserting after subsection (6AK) the following subsection:

"(6AL) A gift to the institution specified in subparagraph (1)(a)(cviii) is
not an allowable deduction under this section unless the gift was made on or
after 26 November 1991 and before 1 July 1992.".