Donation deduction threshold reduced: donations above the cash limit require non-cash payment, changing deduction eligibility. Amendment replaces the existing higher cash-payment threshold so that no deduction is allowable for any donation exceeding the revised cash limit unless ... Summary
Amendment replaces the existing higher cash-payment threshold so that no deduction is allowable for any donation exceeding the revised cash limit unless such donation is paid by a mode other than cash; the change takes effect from the specified commencement date and applies to subsequent assessment years.
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