COVID-19 Update - Employer's cash flow benefits

The Federal Government has implemented a plan to boost employer's cash flow to assist employers during the Coronavirus pandemic. The cashflow benefit will be delivered through the tax system with credits to accounts being provided either:

• Monthly: at the end of each of the following months - April, Amy, June, July, August, September and October 2020 if you lodge your activity statement monthly; or 
• Quarterly: at the end of April, July and October if you lodge quarterly. 

There will be two cash flow boosts. If you lodge monthly the first boost covers the months of March, April, May and June; the second covers the months of June, July, August and September. However, if you lodge quarterly, the first boost covers the quarters ending 31 March and 30 June, and the second covers the quarters ending 30 June and 30 September.

Should you have any further queries or require any assistance, please contact The Money Edge.

The Money Edge | Bundaberg