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Jobkeeper payment for company

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Dir Sir/Madam, 

Could you please advise whether jobkeeper payment for employees should be included as wages when preparing company tax return? 

For small business COVID-19 support grant, whether the amount should be included in taxable income when lodging company tax return? If the company regisrered GST, the grant includes GST or not? 

Thank you for your help. 

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Hi @Yue 

 

JobKeeper payments are reported at Label Q - Assessable government industry payments. See company tax return instructions for more information.

Which organisation did you received the small business grant from? Generally government grants are assessable and if so they get reported at the same label. However, you will need to check with the organisation because you don't report it if its tax free.

 

If the grant was given to you where there was no consideration for supply then it is not subject to GST. See government grants in LCR 2020/1 .

 

Thanks, Ari

1 REPLY 1

Most helpful response

Community Support

Replies 0

Hi @Yue 

 

JobKeeper payments are reported at Label Q - Assessable government industry payments. See company tax return instructions for more information.

Which organisation did you received the small business grant from? Generally government grants are assessable and if so they get reported at the same label. However, you will need to check with the organisation because you don't report it if its tax free.

 

If the grant was given to you where there was no consideration for supply then it is not subject to GST. See government grants in LCR 2020/1 .

 

Thanks, Ari