Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) This section applies to the person if:
(a) the payment is required to assist the person to deal with the adverse economic effects of the coronavirus known as COVID - 19; and
(b) one or more of paragraphs 6.19B(1A)(a) to (f) of the SIS Regulations applies to the person; and
(c) the person has applied to the Trust for the payment:
(i) in a financial year; and
(ii) because of the ground set out in this section;
and subsection (2) is satisfied for the application.
(2) A person may make one or more applications described in paragraph (1)(c) as follows:
(a) one in the financial year ending 30 June 2020; and
(b) one in the financial year ending 30 June 2021.
However, no application may be made after the day mentioned in subregulation 6.19B(2) of the SIS Regulations as the day after which no application may be made under subregulation 6.19B(1) of the SIS Regulations.
(3) For the purposes of section 6 - 23 of the Income Tax Assessment Act 1997 , a payment authorised by a determination made under subsection 22DI(1) of the Act because of the ground in this section is not assessable income and is not exempt income.