Private ruling: Income- Other
Published: September 2013
Ruling period: Year ended 30 June 2013
Date scheme commenced: 1 July 2012

Ruling: Q1: Are the assistance payments you received in regards to a natural disaster exempt income? | A1: Yes.

Relevant facts and circumstances: You were affected by a natural disaster in Month 20XX. You received a disaster payment as a result of this natural disaster.

Relevant legislative provisions: Income Tax Assessment Act 1997 Section 6-20. | Income Tax Assessment Act 1997 Section 11-15. | Income Tax Assessment Act 1997 Section 51-30.

Reasons for decision: Summary: Subsection 6-20(1) of the Income Tax Assessment Act 1997 (ITAA 1997) states that an amount of ordinary income or statutory income is exempt income if it is made exempt from income tax by a provision of this Act or another Commonwealth law. These provisions are listed in section 11-15 of the ITAA 1997. Included in the list are payments received in relation to a disaster occurring between Month 20XX and Month 20XX being considered exempt income. Consequently, the payment you received, in relation to a disaster, is exempt income.