Worried you’re missing part of your refund? Remember, the low and middle income tax offset isn’t a refund on its own – it’s used to offset (or reduce) the amount of tax you pay. The offset amount you may be entitled to is automatically applied and could range between $255-$1080, depending on things like your taxable income and how much tax you’ve paid.
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.