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Re: Jobkeeper sole trader

Initiate

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Replies 3

Does a sole trader who is eligible for jobkeeper payment has to register PAYG-W, lodge quarterly IAS and an annual PAYG summary report to ATO for himself?

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Most helpful response

Enthusiast

Replies 2

Sole traders who dont have any employees and are only claiming jobkeeper for themselves do not need to be registered for PAYGW

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Most helpful response

Enthusiast

Replies 2

Sole traders who dont have any employees and are only claiming jobkeeper for themselves do not need to be registered for PAYGW

Initiate

Replies 1

So when a sole trader prepare for an individual tax return, they shall input gross wages $9000 with no PAYG-W (from Apr to Jun)? Am I correct?

 

A company's owner who is the only person to receive jobkeeper. The company has not registered PAYG-W previously.

Can I please ask in this case, shall this company has to register PAYG-W, lodge IAS and an annual PAYG summary to ATO? 

 

Many thanks

Enthusiast

Replies 0

sole trader's who received JobKeeper payments need to include the payments as business income in the individual tax return, rather than as salary and wage.

 As for a company, im not 100% sure of the exact procedure, but the jobkeeper would be assessable income for  the company but there may be an allowable deduction for the payment to the eligible business participant. If the payment os only for a business participant and not an "employee", the company should not be required to be registered for PAYGW, but would most likely report it as a payment to an associated person on the annual company tax return. I would recommend having that clarrified though as like i said, i'm not 100% sure on the process for companies.