3. Worked examples of Cash Flow boost Payments
The first tranche of Cash Flow Boost payments will be made after 28 April 2020. The March 2020 BAS is due for lodgement by 25 May 2020. Here are some examples as to how the Cash Flow Boost will flow through.
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If the PAYG withholding for your employees is $25,000 for the March 2020 quarter and $25,000 for the June 2020 quarter, you will receive a credit of $50,000 in total for the two quarters. You will receive another credit of $25,000 paid in June 2020 and $25,000 to be paid in September 2020 BAS, bringing your total cash flow boost to $100,000.
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If the PAYG withholding for your employees is $5,000 for the March 2020 quarter, you will receive the minimum payment of $10,000. You will then receive a further $5,000 for the June 2020 BAS and $5,000 again for the September 2020 BAS, bringing your total cash flow boost to $20,000.
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If the PAYG withholding for your employees is $60,000 for the March 2020 quarter, you will receive the maximum payment of $50,000. You will then receive a further $25,000 for the June 2020 BAS and $25,000 again for the September 2020 BAS, bringing your total cash flow boost to $100,000.
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If you pay wages but do not need to withhold any PAYGW, you will receive the minimum $10,000 for the March 2020 quarter, and a further $5,000 for the June 2020 BAS and $5,000 again for the September 2020 BAS, bringing your total cash flow boost to $20,000.
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If your PAYGW for March 2020 is $8,000 and $9,000 in June 2020, you will receive $10,000 in your March 2020 BAS. You will receive $7,000 for you June 2020 BAS. You will receive a further $8,500 for the June 2020 BAS and $8,500 for the September 2020 BAS, bringing your total cash flow boost to $34,000.
