Sch 7, s 5A
CurrentMeaning of loss of income
5A Meaning of loss of income
(1)
A loss of income, for an applicant, refers to the net income that would have been earned in a period (the relevant period) if the operation of the applicant’s primary production enterprise, small business or non-profit organisation had not been interrupted by the eligible disaster.
(2)
The loss of income is assessed on the basis of the financial performance of the applicant’s primary production enterprise, small business or non-profit organisation in previous periods in which the circumstances, other than the effect of the eligible disaster, were similar to the circumstances in the relevant period.
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