Tax Laws Amendment (2009 Measures No. 2) Act 2009 (42 of 2009)

Schedule 8   Government grants for businesses in relation to 2009 Victorian bushfires

Part 1   Amendments commencing on Royal Assent

Income Tax Assessment Act 1997

2   At the end of Division 59

Add:

59-50 Clean-up and Restoration Grants for 2009 Victorian bushfires

The following payments administered by the Rural Finance Corporation of Victoria in relation to the Victorian bushfires of 2009 are not assessable income and are not *exempt income:

(a) Clean-up and Restoration Grants for primary producers;

(b) Clean-up and Restoration Grants for small businesses.