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

Initiate

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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?

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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

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Devotee

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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

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@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.