Victorian Government Grants

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Juliani
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Victorian Government Grants

Hi,

 

Is the 10,000 Business grants from the Victorian Government considered assessable income for taxation purposes.

 

I can't seem to find an answer on the website.

 

Thanks

 

2 REPLIES 2
Neil_M
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Re: Victorian Government Grants

HI @Juliani 

 

Generally this is something that you’d need to speak with your tax advisor about. That said if you didn’t have a tax advisor or were unsure, Id be inclined to query this with the ATO to get an official answer as to whether this grant was tax assessable or not.

Regards,
Neil

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DuncanS
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Re: Victorian Government Grants

@Juliani @Neil_M @AlanT 

 

I was having the same issue reading the ATO Website.

 

One does hope the ATO will update their website for Covid State Government Grants.

 

Duncan

Duncan Smith
Business Advice + Tax
Helping business owners build a better business since 1998
E expressgst@optusnet.com.au T 02 9904 3672 7 days

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