Thanks Scomo, 10k in april another 5k in July and another 5k in Oct. 20k tax free. hopefully they up the payments and keep it going longer. fingers crossed.
Thanks Scomo, 10k in april another 5k in July and another 5k in Oct. 20k tax free. hopefully they up the payments and keep it going longer. fingers crossed.
Yep... I second that
Do you have to have employees?
Yep. I have my wife on the books to do the accounting etc and from time to time will come out with me for a day
Thanks for that. Is there a minimum amount you need to pay to make such an arrangement qualify?
No minimum as far as I know. As long as u have an employee and is not working FT elsewhere, casual ok,
Contact your accountant and he/she can suss out if your eligible
Cash flow boosts are automatic, so if you qualify you get credit after lodging bas
Main requirements are that you have to be a gst registered employer with payg withholdings previous quarter
(If your bas total is 4500 and you get a 5000 credit, the remaining 500 will be refunded to your bank account and 4500 balance cleared)
There's other grants for job keeper registered employers that you have to apply for (with other eligibility requirements)
Check out https://www.business.gov.au/ for more info
But before you run of and employ someone, they had to be employed by your business before a certain date, you cant just sign someone up today to get the $'s