10 August 2021

Supporting businesses and individuals impacted by COVID-19

The passage of the Treasury Laws Amendment (COVID‑19 Economic Response No. 2) Bill 2021 will provide additional support to individuals and businesses that continue to be affected by the COVID‑19 pandemic.

The Bill will ensure that COVID‑19 disaster payments received by individuals from the 2020‑21 income year are tax free, providing additional relief for individuals who are doing it tough. 

The Bill also gives effect to the Morrison Government’s commitment to assist any state and territory that is unable to administer its own business support payments in the event of a significant lockdown imposed by a state or territory.

The Treasurer will also be able to determine the tax treatment of eligible COVID‑19 business support payments administered by the Commonwealth.

Under the Bill, the ATO will be able to share data with Australian government agencies for the purpose of administering a COVID‑19 business support program that the Treasurer has declared is eligible for data sharing.

Importantly, the Bill will also provide flexibility to enable necessary temporary adjustments for complying with information and documentary requirements under Commonwealth legislation.

These measures build on the Morrison Government’s support for individuals and businesses during the COVID‑19 pandemic.