Tax-Free Archives - The Garis Group

Are COVID-19 Grants and Funding Tax Free?

August 11, 2021

COVID, COVID-19, COVID-19 Tax, Government Funding, Grants, Tax-Free

Most people would think that money provided by the Government to support people and business during a crisis would be tax free? Otherwise, it’s like giving money with one hand and then taking it away with the other, isn’t it? But, the tax laws don’t work like that. To make a payment tax-free, legislation is…

Coronavirus Grants Now Tax-Free

December 15, 2020

Emma Zajac

business, COVID, COVID-19, COVID19, Grants, Legislation, Parliament, Payment, Small Business, Tax, Tax-Free

Legislation aimed at ensuring coronavirus small business grants are not subject to income tax has now passed both houses of Parliament. Treasury Laws Amendment (2020 Measures No. 5) Bill 2020 passed Parliament late on Thursday. The bill amends income tax law to make certain grant payments received by eligible businesses non-assessable non-exempt income so that these…

Small Business Coronavirus Grants Set to be Income Tax-Free under New Bill

November 13, 2020

Emma Zajac

Bill, business, Coronavirus, COVID, COVID-19, COVID19, Grants, Income, Parliament, Small Business, Tax-Free

A new bill that ensures state and territory grants issued in response to the coronavirus pandemic are not subject to income tax has now been introduced. Treasury Laws Amendment (2020 Measures No. 5) Bill 2020 has now been introduced in Parliament, following the government’s announcement that small and medium business grants announced on or after…

Are COVID-19 Grants and Funding Tax Free?

Coronavirus Grants Now Tax-Free

Small Business Coronavirus Grants Set to be Income Tax-Free under New Bill

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