Nane

Accountant expenses denied as deductions: Recent ATO announcements about COVID-19 payments

On 3 September 2021, The ATO updated the public information about taxation of certain Government payments during COVID-19 pandemic, following announcements by the Treasurer, Josh Frydenberg. The changes have reclassified a number of Federal and State/Territory Government payment to ‘non-assessable non-exempt’ (‘NANE’) income, meaning the payments a...