Stephen Conroy (Victoria, Australian Labor Party, Deputy Leader of the Government in the Senate) Share this | Hansard source

Amendment (2) amends schedule 1 to the bill; schedule 1 removes income tax-deductibility for political donations. Without this amendment, the bill has the consequence that political parties, independent members and independent candidates no longer meet the definition of gift-deductible entities in the A New Tax System (Goods And Services) Tax Act 1999. As a result, political parties, independent members and independent candidates are unable to utilise certain GST concessions in the GST legislation that are available to gift-deductible entities. Amendment (2) restores these GST concessions for political parties, independent members and independent candidates and will prevent increased GST compliance costs for political entities. Full details to the amendments are contained in the supplementary explanatory memorandum.