Treasury registered the Income Tax Assessment Amendment Declaration (No. 4) 2022. The instrument declares additional VIC and ACT grant programs as "eligible programs" for tax exemption.
Same as some previous grants that have qualified, a payment received in the 2021 or 2022 financial year by SMEs from the following eligible programs will be as non-assessable non-exempt income (NANE):
Business Cost Assistance Program Round Four - Construction (Victoria)
Business Cost Assistance Program Round Two - Top Up (Victoria)
Business Cost Assistance Program Round Three (Victoria)
Business Cost Assistance Program Round Four (Victoria)
Business Cost Assistance Program Round Five (Victoria)
Commercial Landlord Hardship Fund 3 (Victoria)
Impacted Public Event Support Program Round Two (Victoria)
Licensed Hospitality Venue Fund Top Up Payments (Victoria)
Live Performance Support Program (Presenters) Round Two (Victoria)
Live Performance Support Program (Suppliers) Round Two (Victoria); and
HOMEFRONT 3 (Australian Capital Territory).
If you are a small/medium business in VIC or ACT and unsure of your eligibility, please do not hesitate to contact us via email info@xwd.com.au or call us on 03 6292 6012.
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