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Re: Cash Flow Boost some clients got and some are not

Newbie

Views 915

Replies 4

as i can see, some client get the $10k  Cash Flow Boost very quickly, but others are not get it, even, they comply and lodged all BAS ; STP etc.

not sure why?

1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

Former Community Support

Replies 3

Hi @marcoli,

 

Thanks for reaching out.

 

If your client is eligible to receive the cash flow boost, once they've lodged their activity statement, the first amount will automatically be credited from 28 April 2020.

 

The cash flow boosts will be applied to reduce liabilities arising from the same activity statement. If there is credit remaining after this occurs your client will generally receive a refund of that amount.

 

To support eligible entities during the period associated with COVID-19, any excess credit from the activity statement that received the cash flow boost amount will be refunded to your client, rather than offset against any other tax debts they have. However, any excess may still be applied against any outstanding debts with other Australian Government agencies.

 

There is more information available on our website.

 

I hope this helps.

4 REPLIES 4

Most helpful response

Former Community Support

Replies 3

Hi @marcoli,

 

Thanks for reaching out.

 

If your client is eligible to receive the cash flow boost, once they've lodged their activity statement, the first amount will automatically be credited from 28 April 2020.

 

The cash flow boosts will be applied to reduce liabilities arising from the same activity statement. If there is credit remaining after this occurs your client will generally receive a refund of that amount.

 

To support eligible entities during the period associated with COVID-19, any excess credit from the activity statement that received the cash flow boost amount will be refunded to your client, rather than offset against any other tax debts they have. However, any excess may still be applied against any outstanding debts with other Australian Government agencies.

 

There is more information available on our website.

 

I hope this helps.

Devotee Registered Tax Practitioner

Replies 2

@marcoli @Alyce 

 

Marcoli,

 

I suggest that you look at the client's ATO ICA to see whether the Cash Flow Boost #1 has been credited.

As Alyce mentioned, those with a January - March BAS or tax debts greater than Cash Flow Boost #1 will not receive a payment from the ATO.

 

Some entities eg those commencing GST registration after 01 January 2020 and with quarterly BAS will not get a Cash Flow Boost.

 

Duncan 

Newbie

Replies 1

thanks Duncan.

as i can see, this client is use G21 fro GST each qtr and lodge annual GST each year.

the 2019 income tax and 2019 GST annual retunr is lodged last week, but, the cash boost still not been given.

even this cleint lodge Monthly PAYG withholdings.

i called once and their answer is just need to make compalints .

but i am not sure how to do it. what stpes need to do

Former Community Support

Replies 0

Hi @marcoli,

 

I am sorry to hear that your client has not received the cash flow boost (CFB) yet.

The client needs to meet all the eligibility requirements to receive the cash flow boost, which will be automatically credited to their activity statement account when they lodge.

 

As a monthly lodger, the CFB calculation will fall into the following scenario. Where the withholding amount reported for March in W2 was under $10,000, the amount reported would be calculated at 300% to accommodate the prior months of January and February that have already been lodged.

 

You can also check the calculations online the calculated CFB amount will be shown in the calculation summary page including where the amount calculated is $0, for example, where the $50,000 payment cap is reached. If they are not eligible no amount will be displayed.

 

If you need additional assistance you may need to  phone us to discuss the account individually. Our call centres are very busy at the moment, however we have extended our hours of operation and I would recommend calling outside of the core business hours.

Good luck with everything.