Cash Flow Boost (CFB) is split into two components:
1. Based initially on the March BAS an amount of between $10k and $50k will be added to the ATO Activity Statement Account (and possibly generating a refund). BAS’s for the months of April, May and June may provide further amounts of component 1.
- March monthly BAS should receive a credit of 3 times the PAYGW on March.
- March quarterly BAS should receive a credit of the PAYGW for the quarter.
- April through to and including June will provide further credit if the PAYGW then exceeds the $10k minimum but only up to the $50k maximum.
2. Based on either the Quarterly BAS for each of June & then the September BAS: the employer should receive an amount of CFB equal to 50% for each BAS of the total paid in component 1.
For monthly BAS the employer should receive an amount of 25% of component 1 for each BAS for the months of June, July, August and September.
The CFB Credit will be applied to the amount due to be paid to the ATO for that BAS and any excess should be refunded.
If you believe an employer is eligible and has not received the CFB Credit then:
- Review the ATO Eligibility Companion Guide - ATO Website
- Contact the ATO
- Noting the ATO states they will have responded to all enquiries by 5th June
Digit.business provides a useful calculation tool to indicate the amounts of CFB
ATO explains CFB timing