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.
can you provide some information on how we should record the Jobkeeper and Cash Boost Payments in our next BAS?
I understand the payments don't include GST, however, should they be included in 1A or left off the BAS entirely?
My instinct says to leave them off but I don't want to report the wrong thing.
P.S - thank you also to the ATO staff here for all the help through these unchartered waters with covid19. I read the community board and receive so much helpful information from the questions that you answer for everyone. It's appreciated!