Announcements
We understand that 2020 has been a difficult year but we're here to try and make it a little easier for you during tax time. You can search other people's posts, read our articles or ask your own question.

ATO Community

Re: March 2020 BAS lodgements - timing under COVID-19 to access cashboost

Highlighted

Initiate

Views 2302

Replies 8

A client has just commenced the process to lodge their March 2020 BAS.  They received the following message:  "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 your cashflow."

 

Does this mean we should not be lodging March 2020 BASs now but should wait and lodge all of them on the same due date to ensure all clients receive their applicable cash boosts?  Surely that would overwelm the lodgement system, to have everyone lodge on the exact same day.

1 ACCEPTED SOLUTION

Accepted Solutions
Highlighted

Best answer

ATO Certified

VIP

Replies 0

Thank you @DuncanS for your comments and for drawing this to our attention.

 

I can assure you that it was never our intention to offend the large number of honest agents who are doing a wonderful job amid such uncertainty and difficult times. On the contrary, our intention was to assure you that we would be taking action in relation to the few who might not be doing the right thing. The statement followed numerous reports from agents and businesses, identifying what they consider inappropriate activity, and asking us to take action to ensure fairness for all. Again I thank you for your input, we will certainly take it into account if we release similar statements in the future.

 

By lodging your January – March 2020 BAS early you will still receive the maximum refund available to you. The Small business newsroom article has since been updated and we apologise for any confusion.

 

Our website has been updated to advise the cash flow boost will automatically be credited to your account when you lodge your activity statement. The first credit will occur on or after the 28th April 2020. Even if you lodge early, you will not be credited with the cash flow boost any earlier. There's more information about the timing of lodgement here.

 

Please keep posting your questions here on ATO Community and we will be happy to respond.

 

Kath Anderson

Assistant Commissioner

Tax Professionals Digital Services

8 REPLIES 8
Highlighted

Newbie

Replies 0

I would like to know this too.  Received an email late last night from ATO - is it a hoax?  Although from the Small Business Newsroom, it is not written how I would expect the ATO to write it (as follows):

 

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.

 

It is just this contradicts what our industry, and an accountant webinar I attended, have advised to do which is lodge our March BAS 2020 asap.

Highlighted

Initiate

Replies 4

Lodge March 2020 IA on due date "and no earlier"

What happens if we have already posted off our paper IA for the March quarter ?

Are we going to miss the cash boost ?

 

The webpage https://www.ato.gov.au/Business/Business-activity-statements-(BAS)/In-detail/Boosting-cash-flow-for-...       That page implies that even if you lodge early, credits/payments will not occur before 28 April (but will be credited/paid after that date).

 

Help & Clarify please !

Highlighted

Devotee Registered Tax Practitioner

Replies 3

@sab @srow @AF @KylieATO 

 

I spent about half an hour on the phone this morning with the ATO.

 

The ATO representative located the article on the Small business newsroom.

 

I suggested that the request to lodge all BAS on a single due date does not before make sense.

Such a request has not been made by the ATO in 20 years of lodging BAS ie GST commenced 01 July 2000.

 

The ATO representative spoke to his supervisor who could/would not comment on the ATO's article.

 The ATO representative could not answer my request to explain "This will ensure the maximum refund available...".

 

I did question the ATO representative if someone checks publications before publishing.

He was not in a position to answer.

 

Duncan

Highlighted

Devotee Registered Tax Practitioner

Replies 2

@KylieATO @ChrisATO @ColinWalker  @KathAnderson 

 

Any update on why the ATO is suggesting that all January - March 2020 BAS should be lodged on their due date and no earlier.

 

Given my comments above, please reply.

 

Is there any chance that those who have lodged early (including my own Company) would not receive the maximum refund available? I am concerned by the ATO commentary in the article in the newsroom dated 07 April 2020. 

 

In 40 years of working in banking/accounting/tax, I have never seen business circumstances like this.

 

On a personal note, every Wednesday night for some 8 years, I have led a conversation group at UTS Helps.

We held the group on Zoom yesterday and were discussing when the group could next meet in person to celebrate missed birthdays. Before that I was a Industry Practitioner (Marker/QA Reviewer/ HelpLine CoOrdinator/ Task Force Member) for Finsia/Kaplan in Analysing Financial Statements and Mortgage Lending from 1998-2012. Maybe I should have been a Teacher/Professor not a Tax Accountant.

 

We all live the world of tax but I do believe it is somewhat important to be concerned for others especially in the current times.

 

Colin and Kath, I do believe that the joint email from the ATO/TPB dated 06 April 2020 titled 'Working together in response to the impacts of Covid-19' used words of warning (The TPB and ATO will take firm and swift action should this be the case) that could have been stated in a less imposing manner - I have posted my concerns in the Post on the ATO Community titled Cashflow boost for Employers. Your comments would be appreciated.

 

Trust all are safe and well.  

 

Duncan

Highlighted

Initiate

Replies 0

Thanks to all who have commented, some really helpful additional information contained in the information you ahve shared.  I note the Moderator has detailed they will look into this further and get back to us.  Hope we can get some clarity soon.

Highlighted

Best answer

ATO Certified

VIP

Replies 0

Thank you @DuncanS for your comments and for drawing this to our attention.

 

I can assure you that it was never our intention to offend the large number of honest agents who are doing a wonderful job amid such uncertainty and difficult times. On the contrary, our intention was to assure you that we would be taking action in relation to the few who might not be doing the right thing. The statement followed numerous reports from agents and businesses, identifying what they consider inappropriate activity, and asking us to take action to ensure fairness for all. Again I thank you for your input, we will certainly take it into account if we release similar statements in the future.

 

By lodging your January – March 2020 BAS early you will still receive the maximum refund available to you. The Small business newsroom article has since been updated and we apologise for any confusion.

 

Our website has been updated to advise the cash flow boost will automatically be credited to your account when you lodge your activity statement. The first credit will occur on or after the 28th April 2020. Even if you lodge early, you will not be credited with the cash flow boost any earlier. There's more information about the timing of lodgement here.

 

Please keep posting your questions here on ATO Community and we will be happy to respond.

 

Kath Anderson

Assistant Commissioner

Tax Professionals Digital Services

Highlighted

Community Manager

Replies 1

Hi @srow, @sab and @DuncanS,

 

We're going to have a look into this and get back to you with some clarification after the weekend.

 

Thanks, NateH

Highlighted

I'm new

Replies 0

Any clarification on this please

 

Thank you

AJ5