Commonwealth Consolidated Acts Commonwealth Consolidated ActsIncome Tax Assessment Act 1936
1 Subsection 159J(6 ) (a fter paragraph ( bb) of the definition of separate net income )
Insert:
( bc ) does not include an ex - gratia payment from the Commonwealth known as Income Recovery Subsidy for the North Western Queensland floods of January and February 2009; and
Income Tax Assessment Act 1997
2 Section 11 - 15 (table item headed "welfare")
After:
Income Recovery Subsidy for the North Queensland floods of January and February 2009 |
|
Insert:
Income Recovery Subsidy for the North Western Queensland floods of January and February 2009 |
|
3 Section 51 - 30 (at the end of the table)
Add:
5.4 | an individual in receipt of an ex - gratia payment from the Commonwealth known as Income Recovery Subsidy for the North Western Queensland floods of January and February 2009 | the payment | the payment must be claimed: (a) after 24 February 2009; and (b) before 13 April 2009 |
Part 2 -- Sunsetting on 1 July 2011
Income Tax Assessment Act 1997
4 Section 11 - 15 (table item headed "welfare")
Omit:
Income Recovery Subsidy for the North Western Queensland floods of January and February 2009 |
|
5 Section 51 - 30 (table item 5.4)
Repeal the item.
Part 3 -- Application provision
6 Application provision
The amendments made by Part 1 of this Schedule apply in relation to the 2008 - 09 income year.