sch.26-sec.6Meaning of loss of income

### sch.26-sec.6 Meaning of loss of income An eligible entity’s loss of income is the difference between— the net income that the eligible entity earned in a period (the relevant period ); and the net income that the eligible entity would have earned in the relevant period if the operation of the applicant’s eligible entity had not been interrupted by COVID–19. The loss of income is assessed on the basis of the financial performance of the eligible entity during the same relevant period during the 2017–18 and 2018–19 financial years. sch 26 s 6 orig sch 26 s 6 ins 2013 SL No. 194 s 5 om 2014 SL No. 51 s 6 prev sch 26 s 6 ins 2015 SL No. 125 s 10 om 2019 SL No. 71 s 59 sch 1 pres sch 26 s 6 ins 2020 SL No. 36 s 4 (sch.26-sec.6-ssec.1) An eligible entity’s loss of income is the difference between— the net income that the eligible entity earned in a period (the relevant period ); and the net income that the eligible entity would have earned in the relevant period if the operation of the applicant’s eligible entity had not been interrupted by COVID–19. (sch.26-sec.6-ssec.2) The loss of income is assessed on the basis of the financial performance of the eligible entity during the same relevant period during the 2017–18 and 2018–19 financial years. - (a) the net income that the eligible entity earned in a period (the relevant period ); and - (b) the net income that the eligible entity would have earned in the relevant period if the operation of the applicant’s eligible entity had not been interrupted by COVID–19.