Confirmed NANE Tax Status For COVID-19 Grant Payments

Payments made under the Victorian Government’s COVID-19 business grant programme have been deemed non-assessable, non-exempt (NANE) income and are thus tax-exempt.

Business owners who put off filing their tax returns for the 2021–22 fiscal year can rely on the fact that payments they received through COVID–19 grant programmes run by the Victorian Government do not need to be reported as income.

Several automatic payments made under Victorian COVID-19 assistance programmes during the lockdown period in the second half of 2021 are now included in legislation from the Australian Government.

If a firm receives payments or revenue that is classified as NANE, it is not obligated to pay tax on that money and is not required to report it on its tax return.

List Of All Payments Classified As NANE

Below is a list of all payments classified as NANE. The legislation is listed in the Federal Register of Legislation.

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