Non-assessable income and expense includes income amounts that must be disclosed on your tax return but are not taxed. Examples include Government grants like the Cashflow Boost or other exempt amounts.

Via "Financials > Accounts" Mark or tag this income as "Non-Assessable"/  "NonDeductible" .


Business Income





Business Expenses



Then, it will be reconciled via "Reconciliation items"

Notes:

  • If the income appears taxable, double-check the tag or classification.
  • Non-assessable income does not increase taxable income, so it won't affect tax payable.
  • Proper tagging ensures that the ATO requires disclosure but does not treat it as assessable.