• Wellness Business Advisor

What income do I need to report for my business?

The ATO has reminded businesses to ensure they comply with the requirement to report all their income this tax season.

It is important to report ALL income from any source that your business has received, whether you operate as a sole trader, partnership, trust or company.


Business income includes:

  • Eftpos, online, credit/debit card transactions

  • Cash sales, vouchers & coupons

  • Paypal, WeChat or Alipay

  • Sharing economy and barter transactions

  • Cryptocurrencies

  • Interest received

  • Dividends/distributions received from investments

  • Rent from business assets/property

  • Capital gains (from sale of property, plant & equipment & other business assets)

  • Income from all business activities (even if your activities has changed during Covid-19)

  • Supporting apprentices & trainee wages subsidies

  • JobKeeper payments


For further information:

Contact our office admin@wellnessbusinessadvisors.com.au

https://www.ato.gov.au/Tax-professionals/Newsroom/Income-tax/Reporting-business-income/

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