Announcements
Are you a tax professional needing a bit more time to lodge? Check out how to apply online for a deferral, or ask the Community!

ATO Community

Re: Should the jobkeeper payments be reported on BAS item T1 PAYG instalment income?

Initiate

Views 1559

Replies 2

Jobkeeper payments eligible businesses have received are assessble income. But I don't think they are ordinary income earned from business and investment activities. So should they be excluded from T1?

1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

Devotee

Replies 1

Jobkeeper payments received by business are BAS excluded taxable income i.e not included in BAS but included in annual tax return as assessable income

2 REPLIES 2

Most helpful response

Devotee

Replies 1

Jobkeeper payments received by business are BAS excluded taxable income i.e not included in BAS but included in annual tax return as assessable income

Community Moderator

Replies 0

@SM2304 @AliceYi 

 

Thought I would add some information that might be helpful. You do need to include the amount if you have an active PAYG instalments role.