Taxation treatment of COVID-19 grants and NANE grants

Roelof van der Merwe
With many parts of Australia still affected by COVID-19 and in various stages of lockdown, the Federal Government along with the States and Territories, are offering various COVID-19 concessions and support for Australian businesses.

This document takes a look at the tax implications of some of these grants including what income is assessable and non-assessable, any GST implications and how they should be addressed in your individual or business tax return.

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