(1) The agent of a political party shall, by 30 November in each year, lodge a return with the Electoral Commissioner in an approved form setting out details of all gifts and other income received by the party during the financial year which ended on the last preceding 30 June.

(2) The following gifts and income received by the political party do not have to be included in the return ¾

(a) gifts made to the party for a purpose related to an election or by-election under the Commonwealth Electoral Act 1918;

(b) other gifts and income which the party has used, or will use, for a purpose related to an election or by-election under the Commonwealth Electoral Act 1918.

(3) In the case of gifts the details to be set out in the return are as follows ¾

(a) the amount or value of all gifts; and

(b) the relevant details of each gift the value of which equals or exceeds the specified amount.

(4) For the purposes of subsection (3) (b) the sum of the respective amounts or values of 2 or more gifts made to a political party by the same person shall be taken to be one gift but, in calculating that sum, an amount or value that is less than one-third of the specified amount need not be counted.

(5) The agent of a political party may comply with this section by lodging a return or the relevant portion of a return prepared, in relation to the financial year in question, for the purposes of section 314AB of the Commonwealth Electoral Act 1918, and a return or portion of a return so lodged is to be regarded as satisfying the requirements of this section even if ¾

(a) it does not separate the amounts and values of gifts from the amounts and values of other income received by the party; and

(b) it does not separate gifts and income referred to in subsection (2) from other gifts and income.

[Section 175N inserted by No. 75 of 1992 s.4 (as amended by No. 43 of 1996 s.26).]