Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 59.85

    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, primary producer or non - profit organisation as part of a Category C or Category D measure; and

  (b)   the payment relates to floods commencing in Australia in the period between 25   January 2019 and 28   February 2019.