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CX 47: Government grants to businesses
or “Government payments to businesses for certain expenses are not taxable income”
You could also call this:

“ This rule about debt forgiveness for new start grants has been removed from the law ”

This part of the law, called ‘Amounts remitted as condition of new start grant’, used to be in the Income Tax Act 2007. However, it has been taken out of the law. This happened on 24 February 2016. The government made this change when they passed a new law with a very long name about taxes and research.

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Next up: CX 48B: Issue of post-1989 forest land units

or “Removal of rules about forest land units from tax law”
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Part C Income
Excluded income: Definitions

CX 48Amounts remitted as condition of new start grant (Repealed)

    Notes
    • Section CX 48: repealed, on , by section 87 of the Taxation (Annual Rates for 2015–16, Research and Development, and Remedial Matters) Act 2016 (2016 No 1).