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Job Keeper Payment & Tax

Newbie

Views 602

Replies 1

With the jobkeeper payment is the employer allowed to tax you at a different rate to which they usually tax you? This is the response from the employer when they were asked as to why so much tax was withheld.

"These payments will be taxed at your top marginal rate as it is an additional
payment. Normal taxations schedules will apply for your tax returns at the end
of the financial year.
"


1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

Former Community Support

Replies 0

Good morning @Crisis 

Thanks for contacting us.

 

All JobKeeper payments are assessable income of the business that is eligible to receive the payments. The normal rules for deductibility apply in respect of the amounts your business pays to its employees where those amounts are subsidised by the JobKeeper payment.

 

The JobKeeper payment is not subject to GST.

 

You can read further information on Paying your eligible employees on our website.

 

Thanks,

AngelaG 

1 REPLY 1

Most helpful response

Former Community Support

Replies 0

Good morning @Crisis 

Thanks for contacting us.

 

All JobKeeper payments are assessable income of the business that is eligible to receive the payments. The normal rules for deductibility apply in respect of the amounts your business pays to its employees where those amounts are subsidised by the JobKeeper payment.

 

The JobKeeper payment is not subject to GST.

 

You can read further information on Paying your eligible employees on our website.

 

Thanks,

AngelaG