Exemption for disaster relief payments

Exemption for disaster relief payments 

The Government has announced that various disaster relief payments received by individuals as a result of the 2019-20 bushfires will be tax exempt. The exemption will apply to the following payments:

  • Disaster Recovery Allowance payments
  • Payments that would otherwise be taxable under the Disaster Recovery Funding Arrangements, such as grants that may be made to small businesses and primary producers
  • Payments made to eligible Rural Fire Service Volunteers for loss of income where they have been called out for extended periods of service.

Ref: TaxWise Business February 2020

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