The Government has decided to amend the income tax law to allow deductions for gifts of the value of $2 or more, made on or after the date of this press release, to the Australian American Education Leadership Foundation.
This organisation provides a forum to bring together leaders of policy and opinion in Australia and the USA, and to develop closer economic, political and cultural links between the two countries. It also has an educational purpose for the mutual benefit of the people of Australia and the USA.
Legislation to give effect to the Government's decision will be introduced as soon as practicable.