Cash flow boost for employers
Source:Australian Taxation Office
7 April 2020
From 28 April 2020, eligible businesses will receive a tax-free cash flow boost of between $20,000 and $100,000 through credits in the activity statement system when they lodge all relevant activity statements. This is to help during the economic downturn associated with COVID-19.
You do not need to apply for the cash flow boost. All you need to do is lodge your upcoming activity statements.
Make sure you lodge your March and quarter 3 activity statements on their due date and no earlier. This will ensure you receive the maximum refund available to you to assist with your cash flow.
If your business is eligible, the credit will be automatically applied – but not before 28 April 2020. You can view the eligibility criteria on our page Boosting cash flow for employers.
If you are lodging online through our Business Portal, remember you now need to log in using your myGovID. Set up your myGovID today, if you haven’t already.
Remember, registered tax agents and BAS agents can help you with your tax.
Next step:
See also:
- Accessing online services with myGovID and RAM to set up your myGovID
- JobKeeper payment
- COVID-19
