Treasury Laws Amendment (2022 Measures No. 1) Act 2022 (35 of 2022)

Schedule 1   Recovery grants for Cyclone Seroja

Income Tax Assessment Act 1997

2   After section 59-100

Insert:

59-105 Cyclone Seroja - recovery grants

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 or primary producer as part of a Category C measure; and

(b) the payment relates to Cyclone Seroja.