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cash flow boost confusion

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Newbie

Views 593

Replies 3

Had a quarterly BAS debt of $9,927, which ATO debited from our business account, and received a credit of $73 (the difference between the BAS debt and $10,000). Why did we not receive only $73 and not the full $10,000 cash flow boost as calculated we were eligible

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Most helpful response

Community Support

Replies 2

Hi @kenb,

 

Thanks for reaching out.

 

For most businesses, the cash flow boost will automatically be credited to your account when you lodge your activity statement. The cash flow boosts will be applied to reduce liabilities arising from the same activity statement. If there is credit remaining after this occurs you will generally receive a refund of that amount.

 

As your BAS generated a debt of $9,927, the cash flow boost was applied to reduce your liability and the remainder was refunded to you as per the conditions of the cash flow boost.

 

There is more information available about Boosting cash flow for employers on our website.

 

I hope this helps.

3 REPLIES 3
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Most helpful response

Community Support

Replies 2

Hi @kenb,

 

Thanks for reaching out.

 

For most businesses, the cash flow boost will automatically be credited to your account when you lodge your activity statement. The cash flow boosts will be applied to reduce liabilities arising from the same activity statement. If there is credit remaining after this occurs you will generally receive a refund of that amount.

 

As your BAS generated a debt of $9,927, the cash flow boost was applied to reduce your liability and the remainder was refunded to you as per the conditions of the cash flow boost.

 

There is more information available about Boosting cash flow for employers on our website.

 

I hope this helps.

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Newbie

Replies 1

We had to pay the current BAS debt of $9,923, it was NOT offset and was debited from our account - so we only received a princely total Cash Flow Boost of $73. Why was not the actual BAS debt offset as a $0 deduction and the balance of the $73 credited?????

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Community Support

Replies 0

Hi @kenb,

 

Thanks for your reply and apologies for the delay.

 

In order to best answer your question, you will need to phone us.

 

Thanks.