Income Tax Act 2007 section 550

Meaning of "relievable gift"

Section 550 defines what counts as a "relievable gift" for the purposes of the gift aid relief provisions, by identifying the qualifying sources from which such gifts may originate.

• A "relievable gift" is a donation that qualifies for tax relief under the gift aid rules.
• The definition identifies specific sources or categories of gifts that are eligible for this treatment.
• Only gifts that fall within the listed qualifying sources can be treated as relievable gifts.
• This definition underpins the operation of the gift aid relief provisions in the preceding sections of the Act.