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Income Tax Assessment Act 1997
30‑225 Gift of property by joint owners30‑225 Gift of property by joint owners
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30‑225 Gift of property by joint owners
If: (a) you own property jointly with one or more other entities; and (b) you and the other entities make a gift of the property; and (c) you would have been able to deduct the gift under section 30‑15 because of item 4, 5 or 6 of the table in that section if you had made a gift of the property as sole owner of it; you can deduct so much of the gift as is reasonable, having regard to your interest in the property.