- 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.
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