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COVID-19 disaster payments to be tax-free: Prime Minister Scott Morrison

Prime Minister Scott Morrison has declared that COVID-19 disaster payments will now be tax-free, a policy change that will have ramifications for accountants and their clients, say tax experts.

COVID-19 disaster payments to be tax-free: Prime Minister Scott Morrison
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COVID-19 disaster payments to be tax-free: Prime Minister Scott Morrison

Mr Morrison told ABC Radio on Thursday morning that the federally funded income support scheme would now provide tax-free payments of $750 a week to workers who lose 20 or more hours of work a week, and $450 a week to those who lose between eight and 20 hours.

Read more at Accountants Daily.

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