Section CX 48C — Income Tax Act 2007: Government funding additional to government screen production payments

CX 48C Government funding additional to government screen production payments When this section applies (1) This section applies when a public authority makes a payment to a person for a project if— (a) the payment is not in the nature of a grant or subsidy; and (b) the payment is not a grant-related suspensory loan; and (c) the person receives a government screen production payment for the project in addition to the payment. Excluded income (2) The payment is excluded income of the person. Defined in this Act: excluded income , government screen production payment , grant-related suspensory loan , pay , public authority Section CX 48C: inserted (with effect on 1 October 2009), on 6 October 2009, by section 59 of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).