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Delays to response times: It is taking longer than usual to answer calls and myIR messages, and to process some COVID-19 Support Payment applications. This is because of the impact of COVID-19. If possible, please contact us through your myIR account. Log in to myIR

Budget 2022: The Government has announced Budget 2022, which includes changes to child support payments. Find out more on our Tax Policy website

Budget 2022: The Government has announced a Cost of Living Payment, which will be paid from 1 August 2022. You do not need to apply for this payment. If you are eligible, we’ll pay it into your bank account. Find out more

If your business has downscaled or stopped operating due to COVID-19, you may be able to claim GST and income tax deductions for expenses and losses. This depends on whether your business has stopped operating temporarily or permanently.

Income tax deductions

If your business has downscaled or stopped operating temporarily, you can usually still claim income tax deductions for expenses and losses.

If your business has stopped operating completely, you cannot usually claim these deductions, even if you may restart the business later.

GST

If you’re registered for GST, and your business stops operating completely, you may need to cancel your GST registration. This means you will not be able to claim any more GST you’ve been charged (input tax).

Cancelling your GST registration

COVID-19 specific GST issues

More information

If you are unsure how this relates to your business, you should discuss your situation with a tax agent.

You can also find out more in the Interpretation Statement IS 21/04.

IS 21/04: Income tax and GST deductions for businesses disrupted by the COVID-19 pandemic

Last updated: 11 Oct 2021
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