Coronavirus COVID-19 Cashflow Boost from ATO

**Cashflow Boost For Employers** – due to Coronavirus

The ATO will provide tax-free cash flow boosts between $20,000 and $100,000 to eligible businesses, delivered through credits on your BAS (after 28th April 2020).

Eligibility –

  • If you held an ABN on 12 March 2020 and continue to be active
  • Have an aggregated annual turnover under $50 million
  • You pay salary and wages. Even if you are not required to withhold tax but pay wages you will receive a minimum payment of $10,000.
  • You must also have derived business income in the 2018-2019 income year and lodged your 2019 tax return on or before 12 March 2020
  • OR made GST taxable, GST free or input-taxed sales in a previous tax period (since 1 July 2018) and lodged the activity statement on or before 12 March 2020.

**Auskey is now gone if you were lodging your own BAS**.

Contact a Registered BAS Agent to receive your Cashflow Boost from your reported Wages.  Contact us

 

 

2020-04-27T11:45:54+10:00April 25th, 2020|ATO, BAS, Bookkeeper, Financial, Governments|