Jobkeeper and BAS time for Sole Trader

[#1]

Hi, quarterly BAS time is coming soon, I am a sole trader and would like to know do we have to include the jobkeeper in the BAS?

I assume that we do not include the jobkeeper payment as "sales" figure because it has no GST on it. And we have to include the jobkeeper payments on the 19-20 tax return because these payments are taxable income. Please correct me if I am wrong. Thank you.

[#2 · Accepted solution]

Hi @hraito,

Thanks for reaching out.

GST does not apply to JobKeeper Payments. You do not have to report JobKeeper payments for GST purposes such as on your BAS.

The JobKeeper payments you received are considered taxable income and need to be declared in your tax return as income.

If you have not withheld tax from these payments each fortnight, you may owe tax, and enter the PAYG Instalments system.

You can also view the JobKeeper guide for sole traders on our website.

I hope this helps.