The Government has decided to amend the income tax law to allow deductions for gifts of the value of $2 or more made to the following fund:
Katherine District Business Re-Establishment Fund'.
Legislation to give effect to the Government's decision will be introduced as soon as practicable.
The Katherine District Business Re-Establishment Fund has been established for the purposes of the Katherine Regional Redevelopment Programme, the details of which were announced by the Prime Minister in his joint Press Release with the Chief Minister of the Northern Territory on 5 February 1998. Donations to the Katherine District Business Re-Establishment Fund will be used to facilitate employment and contribute to infrastructure restoration in the Katherine region so as to help the community recover from the devastating floods of January 1998.
CANBERRA
15 June 1998
Contact Officer:
Penny Farnsworth
Senator Kemp's Office
(02) 6277 7360
Mark O'Connor,
Australian Taxation Office
(02) 6216 1328