30‑248 Making an election30‑248 Making an election

#### 30‑248 Making an election (1) If you can deduct an amount: (a) under this Division for a gift covered by subsection 30‑247(1); or (b) under Division 31 for entering into a \*conservation covenant covered by subsection 30‑247(2); you may make a written election to spread that deduction over the current income year and up to 4 of the immediately following income years. (2) In the election, you must specify the percentage (if any) of the deduction that you will deduct in each of the income years. (3) You must make the election before you lodge your \*income tax return for the income year in which you made the gift or entered into the covenant. (4) You may vary an election at any time. However, the variation can only change the percentage that you will deduct in respect of income years for which you have not yet lodged an \*income tax return. (5) Unless section 30‑249A or 30‑249B applies, the election and any variation must be in the \*approved form. > Note: Sections 30‑249A and 30‑249B provide for the form of elections and variations for gifts covered by those sections.