Many of us have been confused with the recent updates coming through for SME’s. Knowing what stimulus package we can expect and when we will receive these funds and being able to work out our cashflow until these funds arrive. As a registered agent with the ATO, I received an update and wanted to share it for anyone needing the facts behind the ‘boosting cash flow’ package announced by the Federal Government.

I have grabbed the highlights for everyone and hope this helps in understanding what’s going to happen.

If you are still unsure, reach out to your accountant to find out where you stand.

What is the Initial Cash Flow Boost?

Who qualifies?

When is it paid?

Tax Consequences of the Cash Flow Boost?

What is the Additional Cash Flow Boost?

Not For Profits – are we included?