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Re: government's stimulus package for employers

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Initiate

Views 296

Replies 2

Hello

 

Under the government's stimulus package for employers, how do I calculate what the ATO will provide to my business? I have 5 employees and reported in my BAS quarterly return, March withheld $9800 and $9800 in June and $9800 in September quarters?

 

Thank you

1 ACCEPTED SOLUTION

Accepted Solutions
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Best answer

Community Manager

Replies 0

Hi @stevenpham19,

 

If you are eligible you will receive $10,000 (this is the minimum)  in the first boost on the March BAS from the 28 April 2020.

 

Check out the example for Tim under the heading initial cash flow boost and additional cash flow for the additional payment amounts.

 

KylieS

 

 

2 REPLIES 2
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Master

Replies 1

You will be entitled to credits of $10,000 on the March BAS, $19,400 on the June BAS and $9,800 on the September BAS.

 

Above numbers have been edited. As KylieS has pointed out, the minimum March BAS credit is $10,000.

Highlighted

Best answer

Community Manager

Replies 0

Hi @stevenpham19,

 

If you are eligible you will receive $10,000 (this is the minimum)  in the first boost on the March BAS from the 28 April 2020.

 

Check out the example for Tim under the heading initial cash flow boost and additional cash flow for the additional payment amounts.

 

KylieS