New cash flow support for employers from the ATO shouldn’t be missed. The government is providing temporary cash flow support to eligible small and medium businesses during the economic downturn associated with COVID-19. Eligible businesses will receive between $20,000 and $100,000 in cash flow boost amounts by lodging their activity statements up to the month or quarter of September 2020.
You do not need to apply for the cash flow boost. All you need to do is lodge your upcoming activity statements.
If you’re eligible, the cash flow boost will be automatically credited to your activity statement account. If you’ve already lodged your March 2020 activity statement, you won’t miss out. The credit will still be applied to your account.
You can view further information – such as eligibility requirements, timing of lodgment and when to expect the cash flow boosts – on our webpage, Boosting cash flow for employers.
Eligibility
Businesses (including sole traders, companies, partnerships or trusts) and NFP organisations will be eligible to receive the cash flow boost if:
- You are a small or medium business entity or NFP of equivalent size (that is, an entity with aggregated annual turnover less than $50 million).
- You held an ABN on 12 March 2020.
- You made payments to employees subject to withholding (even if the amount you were required to withhold is zero), such as
- salary and wages
- director fees
- eligible retirement or termination payments
- compensation payments
- voluntary withholding from payments to contractors.
- On or before 12 March 2020, you lodged at least one of
- a 2018–19 income tax return showing that you had an amount included in your assessable income in relation to you carrying on a business
- an activity statement or GST return for any tax period that started after 1 July 2018 and ended before 12 March 2020 showing that you made a taxable, GST-free or input-taxed sale.
