Commonwealth: Treasury Laws Amendment (North Queensland Flood Recovery) Act 2019 (Cth)

Treasury Laws Amendment (North Queensland Flood Recovery) Act 2019 No. 30, 2019 Compilation No. 1 Compilation date: 15 September 2023 Includes amendments up to: Act No. 69, 2023 Registered: 28 September 2023 About this compilation This compilation This is a compilation of the Treasury Laws Amendment (North Queensland Flood Recovery) Act 2019 that shows the text of the law as amended and in force on 15 September 2023 (the compilation date). The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law. Uncommenced amendments The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law. Application, saving and transitional provisions for provisions and amendments If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes. Editorial changes For more information about any editorial changes made in this compilation, see the endnotes. Modifications If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law. Self‑repealing provisions If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes. Contents 1 Short title 2 Commencement 3 Schedules Schedule 1—Flood assistance Income Tax Assessment Act 1997 Schedule 2—Storm assistance Income Tax Assessment Act 1997 Endnotes Endnote 1—About the endnotes Endnote 2—Abbreviation key Endnote 3—Legislation history Endnote 4—Amendment history An Act to make provision in relation to certain aspects of flood and storm related assistance, and for related purposes 1 Short title This Act is the Treasury Laws Amendment (North Queensland Flood Recovery) Act 2019. 2 Commencement (1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms. Commencement information Column 1 Column 2 Column 3 Provisions Commencement Date/Details 1. Sections 1 to 3 and anything in this Act not elsewhere covered by this table The day this Act receives the Royal Assent. 5 April 2019 2. Schedules 1 and 2 The first 1 January, 1 April, 1 July or 1 October to occur after the day this Act receives the Royal Assent. 1 July 2019 3. Schedule 3 The day after this Act receives the Royal Assent. 6 April 2019 Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act. (2) Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act. 3 Schedules Legislation that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms. Schedule 1—Flood assistance Income Tax Assessment Act 1997 1 Section 11‑55 (after table item headed "demutualisation of private health insurers") Insert: disasters 2019 floods—recovery grants................... 59‑85 2019 floods—on‑farm grant program....... 59‑86 2 At the end of Division 59 Add: 59‑85 2019 floods—recovery grants for small businesses, primary producers and non‑profit organisations A payment is not assessable income and is not *exempt income if: (a) for the purposes of the Disaster Recovery Funding Arrangements 2018 (set out in a determination made by the Minister for Law Enforcement and Cyber Security on 5 June 2018), the payment is a recovery grant made to a small business, primary producer or non‑profit organisation as part of a Category C or Category D measure; and (b) the payment relates to floods commencing in Australia in the period between 25 January 2019 and 28 February 2019. 59‑86 2019 floods—on‑farm grant program for primary producers (1) A payment is not assessable income and is not *exempt income if: (a) for the purposes of an agreement covered by subsection (2), the payment is a grant made to a primary producer; and (b) the grant is for replacing or repairing farm infrastructure, restocking, replanting, or a similar purpose. (2) An agreement is covered by this subsection if: (a) the agreement is entered into in the period between 1 February 2019 and 1 July 2019; and (b) the parties to the agreement are the Commonwealth and a State or Territory; and (c) the objective of the agreement is principally to assist primary producers impacted by floods commencing in Australia in the period between 25 January 2019 and 28 February 2019. 3 Application The amendments made by this Schedule apply to assessments for the 2018‑19 income year and later income years. Schedule 2—Storm assistance Income Tax Assessment Act 1997 1 Section 11‑15 (after table item headed "defence") Insert: disasters 2018 storms—relief payments.................. 51‑125 2 At the end of Division 51 Add: 51‑125 2018 storms—relief payments (1) A payment is exempt from income tax if the payment: (a) is made to a primary producer for the purposes of an agreement covered by subsection (2); and (b) relates to storm damage sustained by the primary producer on or around 25 October 2018. (2) An agreement is covered by this subsection if: (a) the parties to the agreement are the Commonwealth and the Foundation for Rural and Regional Renewal; and (b) the objective of the agreement is principally to assist primary producers affected by storms that occurred on or around 25 October 2018. Note: Payments may be made to primary producers by the Foundation for Rural and Regional Renewal, or by other entities on behalf of the Foundation. 3 Application The amendments made by this Schedule apply to assessments for the 2018‑19 income year and later income years. Endnotes Endnote 1—About the endnotes The endnotes provide information about this compilation and the compiled law. The following endnotes are included in every compilation: Endnote 1—About the endnotes Endnote 2—Abbreviation key Endnote 3—Legislation history Endnote 4—Amendment history Abbreviation key—Endnote 2 The abbreviation key sets out abbreviations that may be used in the endnotes. Legislation history and amendment history—Endnotes 3 and 4 Amending laws are annotated in the legislation history and amendment history. The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation. The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law. Editorial changes The Legislation Act 2003 authorises First Parliamentary Counsel to make editorial and presentational changes to a compiled law in preparing a compilation of the law for registration. The changes must not change the effect of the law. Editorial changes take effect from the compilation registration date. If the compilation includes editorial changes, the endnotes include a brief outline of the changes in general terms. Full details of any changes can be obtained from the Office of Parliamentary Counsel. Misdescribed amendments A misdescribed amendment is an amendment that does not accurately describe how an amendment is to be made. If, despite the misdescription, the amendment can be given effect as intended, then the misdescribed amendment can be incorporated through an editorial change made under section 15V of the Legislation Act 2003. If a misdescribed amendment cannot be given effect as intended, the amendment is not incorporated and "(md not incorp)" is added to the amendment history. Endnote 2—Abbreviation key ad = added or inserted o = order(s) am = amended Ord = Ordinance amdt = amendment orig = original c = clause(s) par = paragraph(s)/subparagraph(s) C[x] = Compilation No. x /sub‑subparagraph(s) Ch = Chapter(s) pres = present def = definition(s) prev = previous Dict = Dictionary (prev…) = previously disallowed = disallowed by Parliament Pt = Part(s) Div = Division(s) r = regulation(s)/rule(s) ed = editorial change reloc = relocated exp = expires/expired or ceases/ceased to have renum = renumbered effect rep = repealed F = Federal Register of Legislation rs = repealed and substituted gaz = gazette s = section(s)/subsection(s) LA = Legislation Act 2003 Sch = Schedule(s) LIA = Legislative Instruments Act 2003 Sdiv = Subdivision(s) (md) = misdescribed amendment can be given SLI = Select Legislative Instrument effect SR = Statutory Rules (md not incorp) = misdescribed amendment Sub‑Ch = Sub‑Chapter(s) cannot be given effect SubPt = Subpart(s) mod = modified/modification underlining = whole or part not No. = Number(s) commenced or to be commenced Endnote 3—Legislation history Act Number and year Assent Commencement Application, saving and transitional provisions Treasury Laws Amendment (North Queensland Flood Recovery) Act 2019 30, 2019 5 Apr 2019 Sch 1 and 2: 1 July 2019 (s 2(1) item 2) Sch 3: 6 Apr 2019 (s 2(1) item 3) Remainder: 5 Apr 2019 (s 2(1) item 1) Treasury Laws Amendment (Modernising Business Communications and Other Measures) Act 2023 69, 2023 14 Sept 2023 Sch 4 (item 69): 15 Sept 2023 (s 2(1) item 5) — Endnote 4—Amendment history Provision affected How affected Schedule 3................ rep No 69, 2023 item 1................... rep No 69, 2023