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Thread: Boosting cash flow for employers

  1. #1
    Member Macka's Avatar
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    Default Boosting cash flow for employers

    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.

  2. #2
    Member The Edge's Avatar
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    Default Re: Boosting cash flow for employers

    Yep... I second that

  3. #3
    Members Crankitup's Avatar
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    Default Re: Boosting cash flow for employers

    Do you have to have employees?

  4. #4
    Member The Edge's Avatar
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    Default Re: Boosting cash flow for employers

    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

  5. #5
    Members Crankitup's Avatar
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    Default Re: Boosting cash flow for employers

    Thanks for that. Is there a minimum amount you need to pay to make such an arrangement qualify?

  6. #6
    Member The Edge's Avatar
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    Default Re: Boosting cash flow for employers

    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

  7. #7
    Senior Member Chris B's Avatar
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    Default Re: Boosting cash flow for employers

    Quote Originally Posted by Crankitup View Post
    Thanks for that. Is there a minimum amount you need to pay to make such an arrangement qualify?
    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

  8. #8
    Senior Member bb1's Avatar
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    Default Re: Boosting cash flow for employers

    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

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