Tax exemption announced for disaster relief payments
Feb 18, 1 year ago

Tax exemption announced for disaster relief payments

The Treasurer has announced that any disaster relief payments being made to individuals and businesses impacted by the devastating bushfires are tax exempt.

Notably, the exemption will extend to payments such as:

  • Disaster Recovery Allowance Payments made to individuals; and

  • payments that would otherwise by taxable under the Disaster Recovery Funding Arrangements, such as grants that may be made to small businesses and primary producers.

Editor: This follows on from an announcement by the Prime Minister on 29 December 2019 that the payments made to eligible Rural Fire Service Volunteers (i.e., up to $6,000) will be free from tax.

Presumably, the legislation required for such tax exemptions will be introduced in the next sitting of Parliament.

Share "Tax exemption announced for disaster relief payments" via

More in Uncategorized
May 8, 1 year ago

Our app has been updated to include a COVID-19 Resource Kit!

As your accountant, it’s our job to ensure your business stays informed, compliant and tax efficient, and with this in mind we have recently updated the David O’Brien and Associates mobile app. The app is completely free of charge to you as one o…

Read   Comments are off
Apr 15, 1 year ago

The JobKeeper Payment – 50 Questions & Answers

On 8 April 2020, the Federal Government passed a package of Bills through both Houses of Parliament (which received Royal Assent on 9 April 2020) to give effect to (amongst other things) the JobKeeper Scheme. Subsequent to this, a Legislative Instrum…

Read   Comments are off
Apr 9, 1 year ago

COVID-19 – Temporary Amendments to the Clerks Award

Last week we received communication from Turnbull Hill Lawyers, one of our trusted local lawyers regarding The Fair Work Commission recently approving an urgent change to the Clerks-Private Sector Award 2010 (Clerks Award). The change is the insertio…

Read   Comments are off