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North Queensland flood recovery package

In the 2019-20 Budget, the government announced support for flood-affected North Queensland providing tax exempt grants.

Last updated 25 July 2019

In the 2019–20 Budget, the government announced support for small businesses, primary producers and not-for-profit organisations affected by the North Queensland monsoonal trough flooding between 25 January 2019 and 28 February 2019 by providing them with certain non-assessable, non-exempt grants.

Recovery grants

Small businesses, primary producers and not-for-profit organisations affected by these monsoonal trough flooding may be eligible to receive special disaster recovery grants.

These grants are non-assessable, non-exempt income from 1 July 2018. Therefore, you do not pay tax on the grants.

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Restocking, replanting and farm infrastructure grants

Primary producers may be eligible to receive certain grants for replacing or repairing farm infrastructure, restocking or replanting, or a similar purpose. These grants are non-assessable, non-exempt income for the 2018–19 financial year and later financial years. Therefore, you do not pay tax on the grants.

The above two types of grants are non-assessable, non-exempt income and do not affect your taxable income.

See also  

QC59764