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MJA Updates

ATO Issues Draft Taxation Determination Regarding Impact Of JobKeeper Payments

July 28, 2020 Kris Gale

The ATO has released Draft Taxation Determination TD 2020/D1, setting out how the 'at-risk rule' (section 355-405 of the Income Tax Assessment Act 1997) applies to JobKeeper payments received by a company conducting activities eligible for the R&D Tax Offset.In short, the ATO is of the view that eligible R&D activities subsidised entirely or in part by JobKeeper payments will not attract…

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