Equipping professional accountants for sustainability
The International Federation of Accountants has developed a concise resource to guide accounting professionals and...
READ MOREATO settles JobKeeper ordinary income debate
The ATO has clarified that JobKeeper payments are considered ordinary income but will not count towards the calculation of an entity’s aggregated turnover.
The Tax Office has now updated its web guidance to confirm that while JobKeeper payments are ordinary income, they are not earned in the ordinary course of business, and hence are not included in the calculation of aggregated turnover.
Read more at Accountants Daily.
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