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NSW, Victoria business support payments declared tax-free by Josh Frydenberg

COVID-19 business support programs in New South Wales and Victoria will now be tax-free following a formal declaration by Treasurer Josh Frydenberg.

NSW, Victoria business support payments declared tax-free by Josh Frydenberg
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NSW, Victoria business support payments declared tax-free by Josh Frydenberg

The declaration comes after legislation was passed earlier this month to allow the Treasurer to decide which state and territory business support programs would be eligible for non-assessable non-exempt (NANE) income status.

Read more at Accountants Daily.

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