Commonwealth $25,000 Support for Businesses with Employees

March 20, 2020

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Provides up to $25,000 back, with a minimum payment of $2,000 for eligible businesses.
Eligible Business entities require an aggregated annual turnover under $50 million based on prior year turnover and employ workers.
The payment will be tax free.
Eligible businesses that withhold tax to the ATO on their employees’ salary and wages will receive a payment equal to 50% of the amount withheld, up to a maximum payment of $25,000.
Eligible businesses that pay salary and wages will receive a minimum payment of $2,000, even if they are not required to withhold tax.
Payment will be delivered by the ATO as a credit in the activity statement system from 28 April 2020.
If business is in refund position, the ATO will deliver the refund within 14 days.
Monthly lodgers eligible to receive payment for the lodgement months of March 2020, April 2020, May 2020 and June 2020.
Quarterly lodgers payments will be calculated at three times the rate (150%) in the March 2020 statement.