The Department of Treasury and Finance does not provide income tax or accounting advice.

This notification has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax advice.

Tax advisors should be consulted for information pertaining to your specific circumstances.

Based on advice information received from the Australian Taxation Office and the Federal Treasurer the following information is provided to assist in understanding the tax treatment of COVID Business Grants provided by the SA Government.

The following grants are considered to be ordinary income in the hands of the Eligible Recipient and are assessable under section 6-5 ITAA 1997 in the income year in which the grant is derived:

  • Small Business Grant – Round 1

21 April 2020 to 1 June 2020

  • Small Business Grant – Round 2

10 November 2020 to 28 February 2021

  • Regional COVID-19 Support Grant – Lower South-East.

13 October 2021 to 31 October 2021

  • Business Hardship Grant – December 2021

10 Jan 2022 to 31 March 2022

  • Tourism Hospitality and Gyms Grant – December 2021

10 Jan 2022 to 31 March 2022

  • Business Hardship Grant – Additional Round – January 2022

8 Feb 2022 to 31 March 2022

  • Tourism   Hospitality and Gyms Grant – Additional Round – January 2022

8 Feb 2022 to 31 March 2022

  • Business Hardship Grant – February 2022

28 Feb 2022 to 31 March 2022

The following grants are eligible for non-assessable non-exempt income (NANE) treatment:

  • COVID-19 Business Support Grant;

29 July 2021 to 30 September 2021

  • COVID-19 Additional Business Support Grant;

13 August 2021 To 17 October 2021

  • COVID-19 Tourism and Hospitality Grant;

17 September 2021 To 31 October 2021

  • COVID-19 Business Hardship Grant (September 2021 package);

17 September 2021 To 31 October 2021