Treasury Laws Amendment (COVID-19 Economic Response) Act 2021 (71 of 2021)

Schedule 1   Tax-free treatment of certain small business grants relating to the coronavirus recovery

Income Tax Assessment Act 1997

2   Application

Section 59-97 of the Income Tax Assessment Act 1997, as amended by this Schedule, applies:

(a) to a payment an entity receives in the 2020-21 or 2021-22 financial year; and

(b) in relation to the income year in which the entity receives the payment and later income years.