Bitcoin and the Tax Office
04/06/2024
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How Job Keeper affects your Tax Return?
If you are eligible and have requested help from the government you may be liable to tax for the ‘hand out’. If you are unsure please consult your accountant or seek more information on the government ATO website
COVID will affect your tax return if you have taken any government support payments this includes:
General grants or support are taxable and need to be included in your taxable income, in your tax return.
Individual Breakdown:
- Pandemic leave disaster payment
- This includes payments to individuals that
Self-isolated or quarantined at home and received payment due to not being able to earn an income.
or
Cared for someone with Covid, and during which they couldn’t earn an income.
Job-Keeper
Payments where given to businesses as substitute for income to the employees, which still a taxable income and needs to be declared when you complete your tax return.
Please consult your accountant or seek more information on the government ATO website here.
Business Breakdown:
For all business and COVID concerns please look at the ATO website for more information.
Or book a consultation with one of our Accountants Today!
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