Part D: Assessable government industry payments

Warning:

This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

End of attention

Did your business receive assessable government industry assistance?

No	Go to Part E.
Yes	Read on.

You need to know

Generally, government grants, rebates, bounties and subsidies are assessable income in the hands of the recipient if they are received in or in relation to the carrying on of a business. This generally includes amounts of a capital nature. However, amounts relating to the commencement or cessation of a business may not be assessable.

Examples of assessable government industry assistance are:

bounties
diesel fuel rebate
diesel and alternative fuels grants/energy grants credits
drought relief
employee subsidies
export incentive grants
fuel sales grants
industry restructuring and adjustment payments
Medicare payments received by medical practices.

Completing this part
Step 1	Write your total primary production government industry payments received by each business at G item P8 on your schedule. Do not show cents.
Step 2	If your assessable primary production government industry payments include a diesel fuel rebate, diesel and alternative fuels grant and/or energy grants credit, print D in the TYPE box at the right of the amount at G.
Step 3	Write your total non-primary production government industry payments received by each business at H item P8 on your schedule. Do not show cents.
Step 4	If your assessable non-primary production government industry payments include a diesel fuel rebate, diesel and alternative fuels grant and/or energy grants credit, print D in the TYPE box at the right of the amount at H.
Step 5	Add up your primary production and non-primary production government industry payments and write the total amount in the Totals box item P8 on your schedule.

Last modified: 18 Feb 2020QC 27547