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Cash Flow Boost

Newbie

Views 869

Replies 3

Hi,

 

I am a sole trader registered for GST that made payments to employees subject to withholding.

 

My tax agent submited our BAS on the 19th of April.

 

Our tax agent call the ATO to escalate our case more than 20 business days ago.

 

We have yet to receive the CFB and now have an overdue balance for our last activity statement.

 

Please advise on next steps as we are cash flow conscious. 

1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

Former Community Support

Replies 0

Hi @JessieRae 

 

Thanks for contacting ATO Community.

 

For most businesses, the cash flow boost will automatically be credited to their account when they lodge their activity statement. The initial cash flow boosts will be delivered as credits in the activity statement system when you lodge your activity statements for each monthly or quarterly period from March to June 2020.

 

Once you lodge the ATO will calculate how much you’re entitled to and will credit the amount to your account nominated with your BAS. You will be able to see it in the statement of account once it's processed.

 

You can check your eligibility for boosting cash flow for employers on our website and see what you need to know.

 

If you think there has been an error or are experiencing issues, you will need to phone us.

 

I hope this information is helpful and you all remain well during this time.

 

MariR

3 REPLIES 3

Enthusiast

Replies 0

Welcome to the waiting game, the ATO are not providing any information about when the backlog will be actioned - only saying to patiently wait. Appalling, after telling us to wait 20 business days

Most helpful response

Former Community Support

Replies 0

Hi @JessieRae 

 

Thanks for contacting ATO Community.

 

For most businesses, the cash flow boost will automatically be credited to their account when they lodge their activity statement. The initial cash flow boosts will be delivered as credits in the activity statement system when you lodge your activity statements for each monthly or quarterly period from March to June 2020.

 

Once you lodge the ATO will calculate how much you’re entitled to and will credit the amount to your account nominated with your BAS. You will be able to see it in the statement of account once it's processed.

 

You can check your eligibility for boosting cash flow for employers on our website and see what you need to know.

 

If you think there has been an error or are experiencing issues, you will need to phone us.

 

I hope this information is helpful and you all remain well during this time.

 

MariR

Community Moderator

Replies 0

Hi @JessieRae and @itbusinessowner 

 

We understand this is a difficult time and we apologise for the delay in calculating and crediting your cash flow boost. We’re currently working through a number of enquiries and we’re contacting those who we need further information from to confirm eligibility.

 

If we don’t need to contact you, any credits you’re entitled to will be applied to your account as soon as practical. You can monitor your account online to see if the credits have been applied.

 

Thanks for all your patience while we are working through this.