Businesses who are in receipt of wage subsidy scheme payments and COVID-19 leave and self-isolation leave will need to consider the tax treatment of the subsidies. While information is not currently available, our expectation is that the subsidies will be a non-taxable receipt, but similarly a tax deduction will be unavailable at the time the subsidy is spent. We expect that these payments are likely to be specifically exempted from GST.
Source: Deloitte
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