- Joined
- Nov 16, 2004
- Posts
- 47,391
- Qantas
- Platinum
- Virgin
- Platinum
- Oneworld
- Emerald
- SkyTeam
- Elite Plus
If your BAS is quarterly and you do employee tax withholding it is a minimum credit on $10000.Agree on that - its all about timing though. Closure for us happened over night prior to Government restrictions to travel. Cash injection to all business might give space. But in reality, for many, it will be the end of their business. Very very sad for young people just launched on their career (my kids in that mix but I suspect one is safe due to essential services) but for us, unless we can morph our business, and which we are trying to do right now but that costs money to develop, then by July I suspect its all done and dusted.
You still need to submit your BAS by 28th April but it is possible the $10K credit would more than cover it. In which case you pay nothing and the difference will end as a credit in you account. Same for the minumum $5K in late July and the minumum $5k in late October.
More here: Boosting cash flow for employers | business.gov.au
Last edited: