A LITTLE BIT OF LOCKDOWN RELIEF...
Back in June when COVID-19 disaster payments were released, we were told that these payments would be taxable, and the income would need to be declared on your tax return.
But since then, the Government has done a 180 and advised that COVID-19 disaster payments are no longer taxable and do not need to be declared on your tax return.
We are talking purely COVID-19 DISASTER payments, NOT the JobKeeper & JobSeeker payments you may have received during COVID, these are still taxable.
If you have received COVID-19 DISASTER payment between 1 July 2020 & 30 June 2021 and already lodged a tax return, you will need to lodge an amendment.
If you are yet to do your tax return, don’t declare your disaster payment on your tax return.
If you are unsure if your payment is a disaster payment, contact Centrelink for verification.
Bye for now,