Jobkeeper BAS Label G1

[#1]

Hi , can someone from ATO or a tax professional  please let me know whether Jobkkeper payment or the top up amount is recorded under label G1 of the BAS.

Usually under G1 government grants and subsidies are recorded and jobkkeeper is also a taxable payment from income tax side.

May be because of that this has to be included under G1. I am aware that jobkkeper is not part of GST turnoer and my question is not about that but about label G1.

Please help me. Thank you

[#2 · Accepted solution]

Hi @Joachim 

Please see this thread for guidance to your question.

The JobKeeper payments are considered assessable income for the business or individual receiving the payments. The assessable income will need to be reported in the relevant financial years income tax return. JobKeeper payments are not subject to GST and are not required to be reported on your BAS.  

[#3]

Thank you RoB7,

Just doing my BAS now and was in the same quandary, much appreciated my friend .

Cheers

MikeG61

[#4]

There is so much dispartiy with JK round 2 BAS submissions.  Everything I read here says we do not report Job Keeper money received in our BAS at W1.  Yet when we ring the ATO line, they say we do.   It is so incredibly frustrating as if we report it, and it is not subject to the GST Turnover, then many of my clients are then outside of the 30% downturn.  If we don't report it, they meet the criteria for Round 2.  How can you determine if it is job keeper if it has been reported.

I cannot see anything in the writings about step by step on reporting Job Keeper in BAS.   Is ther eanything that can assist to clarify.

For example - if you are receiving Round 1 job Keeper and by receiving that it increases your revenue, then is that considered GST turnover.  If not, then do we NOT report the money received for JOb Keeper Round 1 when reporting BAS for the Jul-Sep quarter.

Thankyou in advance.

[#5]

Hi @CloneMe,

I recognise our answer may not have been as clear as it could have been.

JobKeeper payments are not subject to GST and are not required to be reported on your BAS at GST labels.

JobKeeper payments are excluded from the calculation of the current GST turnover. Receiving JobKeeper payments will not impact GST turnover and therefore cannot make a client ineligible for JobKeeper.

If you're unsure if a client has reported JobKeeper in their GST label BAS figures, you will need to ask them directly for the answer.

JobKeeper payments do need to be reported under PAYG Withholding labels.