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Elections: Outlays by candidates, and gifts and donations for candidates

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Published on 01 Aug 19 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

Many practitioners are about to wrestle, perhaps for the first time, with the deductibility of outlays incurred in relation to elections, whether as gifts or donations for candidates, whether by candidates themselves and whether in relation to federal, state or municipal elections. In the first part of the article, the author examines the tax treatment of donations or gifts made for, by or on behalf of candidates in the May 2019 federal election. The relevant tax provisions were last amended in 2010. In the second part of the article, the author considers the deductibility of outlays made by candidates themselves and the consequences of a recoupment. The article does not consider outlays in relation to elections conducted for internal positions within political parties  or for elections conducted by trade unions or similar bodies.

Author profile

Christopher Wallis
Chris Wallis, CTA, Barrister and Accredited Mediator has over 35 years in practice. Chris’ has earned reputation for achieving satisfactory outcomes for clients in long and difficult disputes with revenue authorities by doing the “hard yards” and without having his clients enter the witness box. Day to day Chris’ work involves working with practitioners to fend off the TPB; SMSF members/directors to fend off the Regulator; and family lawyers and accountants in a relationship breakdown to trace assets and identify tax exposures. Chris provides easily read and comprehensive advice in relation to trusts or real property and is a regularly published author. Over 35 years Chris has delivered more than 150 presentations around Australia for the various professional bodies, the Australasian Tax Teachers Association, the Television Education Network, the Tax Bar Association, and the late Gordon Cooper’s Problems in Practice. - Current at 23 July 2024
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