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cash flow boost

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Newbie

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We are a new business which have been taken over the ownership in October 2018. We have not yet submitted our tax return for the FY 19. So, we have not yet paid any quaterley instalment since that time. On the other hand, we are submitting our monthly BAS statement on regular basis. I noticed that we have not received any cash flow boost after I submitted the March 20 statement.

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Best answer

Community Support

Replies 3

Hi @nagy

 

Thanks for reaching out to us.

 

If your business has met all the eligibility requirements as outlined on our website and your March 2020 BAS included payments to employees subject to withholding (even if the amount you withheld is zero), your business should be eligible for the cash flow boost.

 

We suggest that you check out the delivery of the cash flow boosts page to find out how it is calculated and credited. If you have checked your integrated client account and can't see that a credit has been applied (you may not receive a refund but have less to pay) when you think it should have been, you may want to phone us.

 

Good luck with it all.

 

Thanks, ChrisR

4 REPLIES 4
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Best answer

Community Support

Replies 3

Hi @nagy

 

Thanks for reaching out to us.

 

If your business has met all the eligibility requirements as outlined on our website and your March 2020 BAS included payments to employees subject to withholding (even if the amount you withheld is zero), your business should be eligible for the cash flow boost.

 

We suggest that you check out the delivery of the cash flow boosts page to find out how it is calculated and credited. If you have checked your integrated client account and can't see that a credit has been applied (you may not receive a refund but have less to pay) when you think it should have been, you may want to phone us.

 

Good luck with it all.

 

Thanks, ChrisR

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Replies 2

Hi @chris
I have a friend who has a small business and he is the only one working in the business and Doesn't have any PAYG withholding as he doesn't have any employees but does have PAYG installment and GST. Is he eligible for cash flow?




Thanks
Ali Jan
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Community Support

Replies 1

Hi @Alijan

 

Sorry for the delayed response.

 

One of the key criteria for the cash boost is

 

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.

Therefore that would require them to be registered for PAYG withholding.

 

Thanks, Ari

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Replies 0

Thanks very much Ari.