Commonwealth Electoral Act 1918

For the purposes of subparagraph 292FA(4)(b)(ii), the following amounts may be credited to a federal account kept for the purposes of this Part in relation to a person (the account beneficiary) covered by column 2 of item 1 or 4 of the table in subsection 292FA(1):

interest earned on money standing to the credit of the account;

a loan;

a bequest;

an amount paid from another federal account kept for the purposes of this Part in relation to another person or entity, if both the other person or entity and the account beneficiary are core members of the same expenditure group;

an amount of a kind prescribed by the regulations for the purposes of this paragraph.

The effect of paragraph (b) is that a commercial loan or a non‑commercial loan can be credited to a federal account.

The effect of paragraph (d) is that any amount can be credited to the federal account of a candidate, a member of the House of Representatives or a Senator if the amount is paid from the federal account of another candidate, member of the House of Representatives or Senator, or a registered political party, a State branch or nominated entity, and both the recipient and the payer are core members of the same expenditure group.

There are penalties for crediting an amount to a federal account if the amount is not required or permitted to be credited: see subsections 292FA(4) and (8).

For the purposes of subparagraph 292FA(4)(b)(ii), an amount may be credited to a federal account kept for the purposes of this Part in relation to a person (the account beneficiary) covered by column 2 of item 1 or 4 of the table in subsection 292FA(1) if all of the following apply:

the amount is credited to the federal account by the account beneficiary at a time in a calendar year and is an amount of the account beneficiary’s own money;

at the time the amount is credited, the account beneficiary is either or both of the following:

a candidate who is not endorsed by a registered political party;

a member of the House of Representatives, or a Senator, who is not a member of a registered political party;

if the account beneficiary is a candidate at the time the amount is credited—the amount is credited to the federal account for the purposes of the account beneficiary’s election campaign in the calendar year.

For an amount to be a gift, it must be a disposition of property from one person to another person (see subsection 287AAB(1)).

However, the sum of amounts that are covered by subsection (2) and credited in a calendar year to federal accounts kept for the purposes of this Part in relation to the account beneficiary must not exceed the annual gift cap (within the meaning of Division 3A) for the calendar year.

There are penalties for crediting an amount to a federal account if the amount is not required or permitted to be credited: see subsections 292FA(4) and (8).

For the purposes of subparagraph 292FA(4)(b)(ii), an amount may be credited to a federal account kept for the purposes of this Part in relation to a person (the account beneficiary) covered by column 2 of item 1 or 4 of the table in subsection 292FA(1) if all of the following apply:

the amount is credited to the federal account by the account beneficiary at a time in a calendar year and is an amount of the account beneficiary’s own money;

at the time the amount is credited, the account beneficiary is either or both of the following:

a candidate who is endorsed by a registered political party;

a member of the House of Representatives, or a Senator, who is a member of a registered political party;

if the account beneficiary is a candidate at the time the amount is credited—the amount is credited to the federal account for the purposes of the account beneficiary’s election campaign in the calendar year.

For an amount to be a gift, it must be a disposition of property from one person to another person (see subsection 287AAB(1)).

However, the sum of the following amounts must not exceed the annual gift cap (within the meaning of Division 3A) for the calendar year:

amounts that are covered by subsection (4) and credited in the calendar year to federal accounts kept for the purposes of this Part in relation to the account beneficiary;

amounts that are covered by subsection 292FAB(1) and credited in the calendar year to federal accounts kept for the purposes of this Part in relation to:

the registered political party that endorsed the account beneficiary; or

the registered political party that the account beneficiary is a member of.

There are penalties for crediting an amount to a federal account if the amount is not required or permitted to be credited: see subsections 292FA(4) and (8).