Institute of Certified Bookkeepers

We are hearing vastly different scenarios in relation to the amount of Cash Boost being paid.

The Cash Boost should NOT be offsetting other ATO debt.
The Cash Boost should NOT be offsetting payment plans.

The Cash Boost will be used to pay any amounts due for payment in relation to the March (Month or Quarter) Activity Statement.

This is outlined by the ATO on their webpage

To access the cash flow boost, you must lodge your activity statement for PAYGW.

If your business is a large withholder for PAYGW purposes, you should continue to pay your PAYGW to us as normal. To receive the cash flow boost, you must lodge the activity statement for your other obligations (such as GST).


What you will receive

The cash flow boosts will be applied to reduce liabilities arising from the same activity statement.

To support eligible entities during the period associated with COVID-19, any excess credit from the activity statement that received the cash flow boost amount will be refunded to you, rather than offset against any other tax debts you have. However, excess amounts may still be applied against any outstanding debts with other Australian Government agencies.

You may also receive a refund if you overpay your activity statement because your system was unable to take the cash flow boost into consideration when working out how much was payable.

If you are due to receive a refund, we will generally pay it within 14 days.

We are working with the ATO on scenarios that are not exhibiting the above situation.

  • 28 April 2020