Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 59.99

    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 D measure; and

  (b)   the payment relates to:

  (i)   floods commencing in Australia as a consequence of rainfall events occurring in the period between 19   February 2021 and 31   March 2021; or

  (ii)   storms occurring in Australia in that period.