Income Tax Assessment Act 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-15 - NON-ASSESSABLE INCOME  

Division 59 - Particular amounts of non-assessable non-exempt income  

Operative provisions  

SECTION 59-85  

59-85   2019 floods - recovery grants for small businesses, primary producers and non-profit organisations  

A payment is not assessable income and is not *exempt income if:

(a) for the purposes of the Disaster Recovery Funding Arrangements 2018 (set out in a determination made by the Minister for Law Enforcement and Cyber Security on 5 June 2018), the payment is a recovery grant made to a small business, primary producer or non-profit organisation as part of a Category C or Category D measure; and

(b) the payment relates to floods commencing in Australia in the period between 25 January 2019 and 28 February 2019.