I am a sole trader, I employ someone over 50 years of age and their employment service provider set up a wage subsidy throught the Restart program that was $10,000 inclusive of GST. As I wasn't registered for GST, it was removed from the subsidy prior to me receiving it. When reporting my income is the wage subsidy assessable income?
Hi @mwell2
If a grant is normally GST-inclusive, it's because that grant is for a taxable supply of some kind. Because it's a taxable supply, that means it is taxable income. This is the case even if GST isn't included because you're not registered for GST.
You will need to report the grant at Assessable government industry payments on your tax return.
Hi @mwell2
If a grant is normally GST-inclusive, it's because that grant is for a taxable supply of some kind. Because it's a taxable supply, that means it is taxable income. This is the case even if GST isn't included because you're not registered for GST.
You will need to report the grant at Assessable government industry payments on your tax return.
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