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.
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