The Government recently introduced the cash flow boost for pretty much everyone who has employees.
A lot of people got it, but some people missed out for various reasons, usually a technicality of some sort or just a processing delay. What is interesting is the ATO doesn’t seem to be applying the law correctly. Many people meet the requirements of the legislation, but the ATO refuses to pay them.
Are you one of these people?
Its tough to see other competing businesses get the money when you don’t, especially when you need it too. Especially when you have done the right thing, are hiring staff and helping keep the economy afloat.
Fortunately (or unforutnately) this is a common problem.
Step 1 – identify the REAL problem
For example a common one is that you didn’t have PAYG registration before 12 March 2020. This is not actually a requirement of the law and the ATO has acknowledged as much on their website. When the ATO is asking you for information about paying employees before 12 March 2020, what they are really asking you is if you have tried to fraudulently claim the cash flow boost. Its a different question, but its important, because you can’t answer the REAL question if you don’t know what it is.
Step 2 – Talk to a person
The ATO is completely overwhelmed by calls and new legislative changes right now. They are building automated processes which allow a quick burn and churn. Whilst that will help most people, it won’t help you if you have a unique situation. The person with a chun and burn mentality cannot look into or understand the nuance. You need to try to talk to someone. Impossible? Not really, there are a lot of administrative maneouvers you can try and that will work. Find out what these are and use them.
Step 3 – Hold your ground
If you qualify, you need to be paid. There isn’t much more to it. Make sure you go through the requirements of the LAW (not just the ATO website). If you meet the requirements, then you are entitled to be paid.
The phone of the firm in the video is 02 7200 8200 or email email@example.com
We have prepared a template for cash flow boost, a template for jobkeeper (employee) and jobkeeper (eligible business participant) to help you go through the requirements of the law and identify whether you are eligible. It comes with a free 15 minute consultation with a tax expert if you need it. Best of luck, we hope you can get your boost.