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.
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