House of Representatives

Explanatory Memorandum

(Circulated by authority of the Treasurer, the Hon. Josh Frydenberg MP)

Chapter 3 Boosting cash flow for employers

Outline of chapter

3.1 The Australian Government is acting decisively in the national interest to address the economic consequences of the Coronavirus, without a permanent or structural impact on the budget balance.

3.2 The Cash Flow Boost Bill is a key part of the Commonwealth response to the spread of the Coronavirus. It provides for payments to support employers and encourage the retention of employees through any downturn.

3.3 Specifically, the Cash Flow Boost Bill provides for the Commissioner to make cash flow boost payments to eligible entities comprising the first cash flow boost payments and the second cash flow boost payments.

3.4 The first cash flow boost is payable by the Commissioner in relation to periods ending from March 2020 to June 2020.

3.5 Entities are eligible to receive the payment for a period if:

•

the entity makes a payment that is subject to withholding obligations under Subdivisions 12-B, 12-C or 12-D (broadly, a payment of wages or salary or similar remuneration), whether or not any amount is actually withheld, in the period;

•

either:

-

the entity was a small or medium business entity, or a charity or other not-for-profit entity of equivalent size, for the most recent income year of the entity for which an assessment of income tax has been made by the Commissioner; or

-

the Commissioner is reasonably satisfied that it is likely that the entity is a small or medium business entity, or a charity or other not-for-profit entity of equivalent size, for the income year that includes the period;

•

the entity has notified the Commissioner of their entitlement in the approved form;

•

the period is one of the following:

-

the quarters ending in March 2020 or June 2020; and

-

the months of March 2020, April 2020, May 2020 or June 2020;

•

if the entity is not an Australian Charities and Not-for-profits Commission registered charity, it both:

-

held an ABN on 12 March 2020; and

-

either derived assessable income from carrying on a business in the 2018-19 income year or made one or more supplies for consideration in the course of an enterprise it carried on within Australia in tax periods commencing after 1 July 2018 and ending before 12 March 2020 and notice of the income or supplies was held by the Commissioner on or before 12 March 2020 or within such further time as the Commissioner allows; and

•

the entity (or an associate or agent of an entity) has not engaged in a scheme for the sole or dominant purpose of seeking to make the entity entitled to the first cash flow boost or increase the entitlement of the entity to the first cash flow boost.

3.6 The Cash Flow Boost Bill also provides for the Commissioner to make second cash flow boost payments upon lodgement of the activity statements for eligible periods from June to September 2020 to entities that were entitled to the first cash flow boost.

3.7 Schedule 3 to this Bill make consequential amendments to various Acts arising from the Cash Flow Boost Bill.

Context of amendments

3.8 The spread of the Coronavirus represents a significant challenge that is likely to directly affect all Australians.

3.9 It has the potential to make many Australians sick over coming months, some seriously. It will place new pressures on medical services and health systems. It is already adversely affecting the Australian economy in significant ways. It will set back many businesses - which were only beginning to recover from the recent summer's bushfire crisis - and hurt many more who are particularly exposed to its effects.

3.10 More broadly, the Coronavirus is already affecting daily life through the impact of overseas responses on supply networks and international trade. This shock is so large, urgent, disruptive and complex that the Government has decided that it requires the Commonwealth - as the national government - to act quickly and decisively. In doing this, the Commonwealth will work with State and Territory governments to ensure the response is comprehensive and responsive to local concerns and pressures.

Summary of new law

3.11 The Cash Flow Boost Bill provides that the Commissioner must make cash flow boost payments to eligible entities comprising the first cash flow boost payments and the second cash flow boost payments. The first cash flow boost payments are required to be made by the Commissioner to an eligible entity for a period ending from March 2020 to June 2020 for which the entity notifies the Commissioner of an amount the entity has withheld if:

•

the entity makes a payment that is subject to withholding obligations under Subdivisions 12-B, 12-C or 12-D (broadly, a payment of wages or salary or similar remuneration), whether or not any amount is actually withheld, in the period;

•

either:

-

the entity was a small or medium business entity, or a charity or other not-for-profit entity of equivalent size, for the most recent income year of the entity for which an assessment of income tax has been made by the Commissioner; or

-

the Commissioner is reasonably satisfied that it is likely that the entity is a small or medium business entity, or a charity or other not-for-profit entity of equivalent size, for the income year that includes the period;

•

the entity has notified the Commissioner of their entitlement in the approved form;

•

the period is one of the following:

-

the quarters ending in March 2020 or June 2020; and

-

the months of March 2020, April 2020, May 2020 or June 2020;

•

if the entity is not an Australian Charities and Not-for-profits Commission registered charity, it both:

-

held an ABN on 12 March 2020; and

-

either derived assessable income from carrying on a business in the 2018-19 income year or made one or more supplies for consideration in the course of an enterprise it carried on within Australia in tax periods commencing after 1 July 2018 and ending before 12 March 2020 and notice of the income or supplies was held by the Commissioner on or before 12 March 2020 or within such further time as the Commissioner allows; and

•

the entity (or an associate or agent of an entity) has not engaged in a scheme for the sole or dominant purpose of seeking to make the entity entitled to the first cash flow boost or increase the entitlement of the entity to the first cash flow boost.

3.12 The payment will generally be made on lodgement of the activity statement notifying the Commissioner of their withholding liabilities for the period and can be provided as a credit against tax liabilities.

3.13 All eligible entities will receive a minimum cash flow boost payment of $10,000 in the first period for which they are eligible. Entities will receive further amounts, based on the amount withheld, up to a maximum total of $50,000 across all cash flow bonus payments to the entity.

3.14 The Commissioner must also make the second cash flow boost payments to an entity for a total amount equal to the amount of the first cash flow boost payments to which the entity is entitled.

3.15 These second cash flow boost payments are payable in equal instalments for either:

•

the months of June, July, August and September 2020; or

•

the June and September 2020 quarters.

3.16 The second cash flow boost payments will generally be made on lodgement of the activity statement containing the GST return of the entity for the period.

Detailed explanation of new law

3.17 The Cash Flow Boost Bill gives effect to the Boosting Cash Flow for Employers measure by providing for payments by the Commissioner.

Eligibility

3.18 As a result of the Cash Flow Boost Bill, an entity is entitled to receive a payment for a period if:

•

the entity makes a payment from which an amount must be withheld (even if the amount is not actually withheld) under Subdivisions 12-B, 12-C or 12-D in Schedule 1 to the TAA 1953 for the period;

•

either:

-

the entity was a small or medium business entity, or a charity or other not-for-profit entity of equivalent size, for the most recent income year for which they have received an assessment of income tax; or

-

the Commissioner is satisfied that there is a reasonable possibility that the entity is a small or medium business entity, or a charity or other not-for-profit entity of equivalent size, for the income year that includes the period; and

•

the entity has notified the Commissioner of payment in the approved form; and

•

the period (an eligible period) is:

-

if the entity is a large withholder or medium withholder for a month, the month of March 2020, April 2020, May 2020 or June 2020; or

-

if the entity is a small withholder for any month in the quarter, the quarter ending March 2020 or June 2020.

•

if the entity is not an Australian Charities and Not-for-profits Commission registered charity, it both:

-

held an ABN on 12 March 2020; and

-

either derived assessable income from carrying on a business in the 2018-19 income year or made one or more supplies for consideration in the course of an enterprise it carried on within Australia in tax periods commencing after 1 July 2018 and ending before 12 March 2020 and notice of the income or supplies was held by the Commissioner on or before 12 March 2020 or within such further time as the Commissioner allows; and

•

the entity (or an associate or agent of the entity) has not engaged in a scheme for the sole or dominant purpose of seeking to make the entity entitled to the first cash flow boost or to increase the entitlement of the entity to the first cash flow boost.

[Section 5 of the Cash Flow Boost Bill]

3.19 Special rules apply if an entity changes from an entity that withholds monthly to an entity that withholds quarterly (or vice versa). In this case, if the period for the entity in the first month they were eligible was a quarter, the payment period for the entity remains the quarter, while if the period in the first month for which they were eligible was a month, their payment periods continue to be each month in the quarter. This ensures that there can be no uncounted or double counted withheld amounts. [Subsection 5(4) of the Cash Flow Boost Bill]

3.20 The payments are intended to support employment by providing Commonwealth support for employers through the tax system.

3.21 The payments are available to all business and not-for-profit entities that make eligible payments, including individuals that carry on a business as a sole trader, partnerships and trusts provided they satisfy the other eligibility requirements. Eligible payments include salary and wages, but can also include director's fees and payments to contractors that are subject to voluntary withholding arrangements under section 12-55 in Schedule 1 to the TAA 1953. [Paragraphs 5(1)(a) and (b), subsection 5(3) of the Cash Flow Boost Bill]

Small and medium business entities

3.22 Payments are only available to entities that carry on a business if either:

•

the entity was a small or medium business entity for the income year for which they have most recently been assessed; or

•

the Commissioner is reasonably satisfied it is likely that the entity is a small or medium business entity for the income year that includes the period.

[Paragraph 5(1)(d) of the Cash Flow Boost Bill]

3.23 The test has two alternate limbs to reflect the information that will be available to the Commissioner. Activity statements do not usually provide the Commissioner with sufficient information to determine if an entity is a small or medium business entity for the current income year based on the likely turnover test, and so just adopting this test would require the Commissioner to obtain further information and delay payments.

3.24 Given this, the first limb is satisfied if the entity was a small or medium business entity for the year for which the entity has most recently been assessed. This is known to the Commissioner and permits payment to these entities without requiring further information or analysis.

3.25 However, some entities will not have been previously assessed or will have gone through a significant change in circumstances since their most recent assessment. The second limb accommodates these entities by alternatively making entities eligible if the Commissioner is satisfied there is a reasonable likelihood that the entity is a small or medium business entity for the period. This lower threshold reduces the need for the Commissioner to obtain further information and minimises any delays to payments.

3.26 Small business entity is defined in section 328-110 of the ITAA 1997 as, broadly an entity that carries on business in the income year and either carried on a business in the previous income year with aggregated turnover of less than $10 million or is likely to have aggregated turnover in the current year of less than $10 million. [Definition of 'small business entity' in subsection 4(1) of the Cash Flow Boost Bill]

3.27 A medium business entity is an entity that would be a small business entity if the turnover threshold to be a small business entity was instead $50 million and references in the small business entity rules to being a small business entity in previous periods were instead references to being a medium business entity in those periods. [Definition of 'medium business entity' in subsections 4(1) and (2) of the Cash Flow Boost Bill]

Non-profit bodies

3.28 Payments are also available to charities and not-for-profit entities, even if they do not carry on a business. An entity is a charity or not-for-profit where it is a non-profit body within the meaning of the A New Tax System (Goods and Services Tax) Act 1999. This broadly requires that the entity does not carry on its affairs for the profit or gain of its members. [Subsection 4(3) of the Cash Flow Boost Bill]

3.29 Entities that are eligible as a non-profit body must meet the same eligibility rules as small or medium business entities relating to aggregate turnover. This means that the entity must have either been eligible to be a small or medium business entity in the most recent income year for which its income has been assessed, or the Commissioner must be reasonably satisfied that it is would be likely to be a small or medium business entity for the current year. Charities and other not-for-profit bodies that are exempt from income tax may not have an assessment for a prior income year, but can rely upon the second limb of the test as set out in paragraph 3.24. [Paragraph 5(1)(d) of the Cash Flow Boost Bill]

Active pre-existing entities

3.30 In addition to these other requirements the cash flow boost payments are only available to entities, if they held an ABN as at 12 March 2020 and were not inactive at that time. This requirement does not apply to charities registered with the Australian Charities and Not-for-profits Commission. This recognises that some charities may be established to respond to the Coronavirus pandemic. [Paragraphs 5(1)(f) and subsections 5(5) and (6) of the Cash Flow Boost Bill]

3.31 An entity is considered active if it had derived assessable income from carrying on a business in the 2018-19 income year or if it has made one or more supplies for consideration in carrying on an enterprise that is connected with the indirect tax zone (Australia) in the tax periods commencing on or after 1 July 2018 and ending before 12 March 2020. Further, notice of the income or supplies must have been held by the Commissioner on or before 12 March 2020, or within such further time as the Commissioner may allow. It is expected that the Commissioner would only rarely allow further time and only where exceptional circumstances provide good reason for a delay in lodgement of activity statements and the income tax return over the whole period. [Paragraph 5(5)(c) and subsection 5(7) of the Cash Flow Boost Bill]

3.32 This is an integrity rule that prevents new or inactive entities being established or revived solely to obtain the first cash flow boost. It sets a low threshold, only requiring a single supply or amount of business income to have been reported to the Commissioner on or before 12 March 2020. It can be satisfied if an entity has provided a single activity statement for any month or quarter since 1 July 2018 or an income tax return in relation to the 2018-19 income year.

Integrity rule

3.33 Eligibility is also subject to a specific integrity rule to defeat artificial or contrived arrangements to obtain the cash flow boost.

3.34 If an entity, or an associate or agent of an entity, undertakes a scheme with the sole or dominant purpose of obtaining or increasing the amount of the cash flow boost in relation to a period, the entity is not eligible for the cash flow boost for that period. In this context, scheme has the same meaning as in section 165-15 of the A New Tax System (Goods and Services Tax) Act 1999 and includes plans, arrangements and courses of conduct. Agents includes the range of entities that are treated as being agents as a result of section 960-105 of the ITAA 1997. [Paragraph 5(1)(g) and subsections 4(6) and 4(7) of the Cash Flow Boost Bill]

3.35 This ensures that artificial arrangements undertaken solely to obtain the cash flow boost are ineffective.

Amount

3.36 The Cash Flow Boost Bill provides that all eligible entities will receive payments totalling between $10,000 and $50,000 for the first cash flow boost payment. [Subsections 7(1) to (3) of the Cash Flow Boost Bill]

3.37 Subject to the minimum amount and the maximum cap, the amount of the payment to an entity for a period is determined based on the total amount that the entity has withheld for the period under Subdivision 12-B, 12-C and 12-D (being, broadly, payments of salary or wages or other remuneration). It only includes amounts that have been withheld. [Subsections 7(1) to (3) of the Cash Flow Boost Bill]

3.38 If the minimum amount and maximum cap do not apply, the amount of the first cash flow boost payment is equal to 100 per cent of the amount that has been withheld under Subdivisions 12-B, 12-C and 12-D in the period. [Subsection 7(1) of the Cash Flow Boost Bill]

3.39 However, if the payment is for the month of March 2020, the entity is entitled to a payment of an amount equal to 300 per cent of the amount that has been withheld. [Subsection 7(3) of the Cash Flow Boost Bill]

3.40 The increased rate for the month of March 2020 ensures that entities that lodge monthly receive an equivalent benefit to entities that lodge quarterly. Otherwise, quarterly lodgers would receive a greater benefit as they would receive payments for amounts withheld in two quarters covering a total of six months, while monthly lodgers would only receive payments for amounts withheld in four months - March, April, May and June 2020.

3.41 However, the total payments for the first cash flow boost to an entity are subject to both a floor of $10,000 and a ceiling of $50,000. [Subsections 7(1) and (2) of the Cash Flow Boost Bill]

3.42 As a result, all eligible entities will receive a minimum total first cash flow boost payment of $10,000, with this amount provided in the first period they are eligible. No further amount will be paid to an entity until, but for the minimum payment of $10,000, the amount the entity is entitled to receive exceeds the minimum payment. [Subsection 7(1) of the Cash Flow Boost Bill]

3.43 Total first cash flow boost payments for an entity across all periods for the first cash flow boost are capped at $50,000 and an entity will not be able to receive any payment beyond this amount. [Subsection 7(2) of the Cash Flow Boost Bill]

Second cash flow boost payments

3.44 The Cash Flow Boost Bill also provides for second cash flow boost payments of a total amount equal to the full amount of the first cash flow boost payments to which the entity was entitled. [Section 6 and subsection 7(4) of the Cash Flow Boost Bill]

3.45 The second cash flow boost payments are available to all entities that received any amount of the first cash flow boost, even if the circumstances of the entity have subsequently changed, provided the entity lodges a GST return for the relevant period and notifies the Commissioner in the approved form. The second cash flow boost payments are not subject to: the minimum payment amount or total payment cap that applies to the first cash flow boost. The second cash flow boost payments are subject to:

•

the requirement that the entity must have existed and been active prior to 12 March 2020 as set out in paragraphs 3.29 to 3.31; and

•

the integrity rule discussed in paragraphs 3.32 to 3.34.

[Subsection 6(1) and paragraph 6(1)(d) and subsections 6(5), (6) and (7) of the Cash Flow Boost Bill]

3.46 It is expected that for most entities the approved form for this notification will also be the existing business activity statement or instalment activity statement that contains their GST return. In practice this means that entities will be entitled to payment once they lodge their activity statement for the relevant period.

3.47 Payments of the second cash flow boost are made in four equal amounts for the months of June 2020, July 2020, August 2020 and September 2020 for entities that are large or medium withholders for those months. [Subsections 6(2) and (3) of the Cash Flow Boost Bill]

3.48 For all other entities, the second cash flow boost payments are made in two equal amounts for the quarters ending June 2020 and September 2020. [Subsections 6(2) and (3) of the Cash Flow Boost Bill]

3.49 Special rules apply if an entity changes from an entity that withholds monthly to an entity that withholds quarterly (or vice versa) during a quarter and outside of a quarter.

3.50 To ensure that there can be no excess or missed payments, for changes within a quarter:

•

if the period for the entity in the first month they were eligible was a quarter - the payment period for the entity remains the quarter; and

•

if the period in the first month for which they were eligible was a month - the payment periods continue to be each month in the quarter.

[Subsection 6(4) of the Cash Flow Boost Bill]

3.51 For changes outside of a quarter, the Commissioner may adjust the amount of the payments an entity receives to ensure that the entity receives total payments equal to the full amount of the first boost payments to which it was entitled. [Subsections 7(5) and (6) of the Cash Flow Boost Bill]

Administration

Payment timing - general payments

3.52 The Cash Flow Boost Bill provides that the Commissioner must generally make the first cash flow boost payment for a period at the later of:

•

the time the entity notifies the Commissioner of their entitlement for the period in the approved form; and

•

the time the entity was due to notify the Commissioner of the amount of their withholding for the period under subsection 16-150(1) in Schedule 1 to the TAA 1953.

[Paragraph 8(1)(b) of the Cash Flow Boost Bill]

3.53 However, a special rule applies in relation to entities that are large withholders and therefore must potentially pay amounts to the Commissioner twice weekly. Payments to large withholders are due at the time the entity pays or is paid their GST net amount for the tax period most closely corresponding to the period for which payment is made. [Paragraph 8(1)(a) of the Cash Flow Boost Bill]

3.54 It is expected for most entities the approved form will be the existing business activity statement or instalment activity statement. In practice this means that entities will be entitled to payment when they lodge their activity statement for the relevant period.

Payment timing - second cash flow boost payments

3.55 The Bill sets out special rules for the timing and amount of the second cash flow boost payments. [Subsection 8(2) of the Cash Flow Boost Bill]

3.56 Entities that are entitled to a second cash flow boost payment for a month will receive a payment, generally of a quarter of the total amount of the second cash flow boost, at the later of:

•

the date when they are due to lodge their GST return for the months of June, July August and September 2020;

•

the time when the entity notifies the Commissioner in relation to the payment; and

•

the time when the entity actually lodges the GST return.

[Subsection 8(2) of the Cash Flow Boost Bill]

3.57 Entities that are entitled to a second cash flow boost payment for a quarter will receive a payment, generally of half the total amount of the second cash flow boost, at the later of:

•

the date when the entity is due to lodge for the June and September 2020 quarters;

•

the time when the entity notifies the Commissioner in relation to the payment; and

•

the time when the entity actually lodges the activity statement.

[Subsection 8(2) of the Cash Flow Boost Bill]

3.58 An entity that must lodge annual GST returns or which is not registered for GST receives payment at the same time as quarterly lodgers. [Subsection 8(3) of the Cash Flow Boost Bill]

3.59 Unlike payments for the first cash flow boost, the second cash flow boost payments are not linked to the time an entity is due to notify the Commissioner of their withholding liabilities for the period. This is because the payment is available to entities that may have ceased to make any payments subject to withholding.

Payment mechanisms

3.60 The Commissioner may direct how the first and second cash flow boost payments are made to an entity, including making the payment by allocating the amount of the payment as a credit to the running balance account of the entity established under section 8AAZC of the TAA 1953 or as a credit against a non-running balance account tax debt using the methods set out in Division 3 of Part IIB of the TAA 1953.

3.61 In practice the payment will generally be applied to reduce liabilities arising from the same activity statement, resulting in entities being required to pay less to the Commissioner. To the extent that entities may make a payment to the Commissioner that is in excess of the amount required because they have not identified they are entitled to the payment when working out their total liabilities and entitlements for a period, the Commissioner would refund the amount of any excess payment.

3.62 Generally, where the payment exceeds any other tax liabilities of the entity the amount will be refunded to the entity. The Commissioner also has discretion in certain circumstances, specified in subsection 8AAZL(3) of the TAA 1953, to refund amounts instead of applying a credit against other tax liabilities.

3.63 Any resulting refund is subject to the powers of the Commissioner to retain refunds under Division 3A of the TAA 1953, including where there is reasonable suspicion of fraud or evasion, or of phoenix activity.

Overpayments

3.64 Consistent with general tax law principles, if an amount of any cash flow boost is paid to an entity under the Bill and the entity was not entitled to that payment, or was not entitled to the full amount of the payment, the entity must pay the amount of the overpayment to the Commissioner. This would include situations where the entity entered into a scheme for the sole or dominant purpose of entitling the entity to the cash flow boost or an increased amount of cash flow boost to which the entity would otherwise not have been entitled. [Section 9 of the Cash Flow Boost Bill]

3.65 If the amount of the overpayment is not repaid, the amount can be recovered as a debt and a general interest charge applies from the date the overpayment arose. [Subsections 9(2) and (3) and section 10 of the Cash Flow Boost Bill]

General administration

3.66 The Commissioner has general administration of the payment. The effect of this is, amongst other things, that:

•

people who acquire information under these provisions are subject to the confidentiality obligations and exceptions in Division 355 in Schedule 1 to the TAA 1953; and

•

the Commissioner's enforcement and penalty powers (including those relating to providing misleading or false information or making fraudulent applications) apply in relation to the payment.

[Section 3 of the Cash Flow Boost Bill]

3.67 The Cash Flow Boost Bill also provides that Part IVC of the TAA 1953 applies to decisions made by the Commissioner under these provisions, which among other things allow entities to seek review of the decisions in the Administrative Appeals Tribunal. An entity will be able to object to the decision of the Commissioner relating to payments under the Bill within 60 days of the decision being made. [Section 12 of the Cash Flow Boost Bill]

Guide material

3.68 The Cash Flow Boost Bill makes use of headings and notes assist the reader. It also makes use of a number of definitions, many of which are consistent with existing tax legislation. [Section 4 of the Cash Flow Boost Bill]

Consequential amendments

3.69 This Bill makes amendments to a number of Acts to implement measures to address the economic impacts of the Coronavirus.

3.70 In relation to the Boosting Cash Flow for Employers measure, Schedule 3 to this Bill amends:

•

Division 59 of the ITAA 1997 to provide that all the cash flow boost payments are non-assessable non-exempt income;

•

the list of non-assessable non-exempt income provisions in section 11-55 of the ITAA 1997 to include the Cash Flow Boost payment;

•

the index of provisions dealing with liability to the general interest charge in subsection 8AAB(4) of the TAA 1953 to include the provision applying the general interest change in relation to all cash flow boost payments;

•

the index of tax-related liability under other Acts administered by the Commissioner in subsection 250-10(2) in Schedule 1 to the TAA 1953 to include the Cash Flow Boost payment; and

•

the Social Security Act and the Veterans' Entitlement Act to exclude all cash flow boost payments from the income testing arrangements under that Act - this ensures that the Boosting Cash Flow for Employers Payment does not count as income for purposes of income tests under those Acts.

[Schedule 3, items 1 to 6, sections 11-55 and 59-90 of the ITAA 1997, paragraph 8(8)(zt) of the Social Security Act, item 19A of the table in subsection 8AAB(4) of the TAA 1953, item 142 of the table in subsection 250-10(2) in Schedule 1 to the TAA 1953 and paragraph 5H8(zzc) of the Veterans' Entitlements Act]

Application and transitional provisions

3.71 The Cash Flow Boost Bill commences on the day it receives Royal Assent. [Section 2 of the Cash Flow Boost Bill]

3.72 Payments of the cash flow boost will be made in relation to eligible periods from commencement. However, the Cash Flow Boost Bill provides for staged cessation of payments. [Section 11 of the Cash Flow Boost Bill]

3.73 In order to be eligible for the first cash flow boost, entities must notify the Commissioner of the amount they have withheld for the relevant period (ie. lodge their activity statement), or for the second cash flow boost, of their entitlement, within two years of the date this notification was due. If the entity has not provided a notification for the period within this time they cease to be eligible for any payment in relation to that period. [Subsections 11(2), (3) and (4) of the Cash Flow Boost Bill]

3.74 Where an entity has provided a notification, but the notification was in error, further payments can be made until 30 June 2026. No further payments under the Cash Flow Boost Bill can be made after this date in any circumstances. [Subsections 11(2), (3) and (4) of the Cash Flow Boost Bill]

3.75 This rule ensures that it is not necessary to maintain payment processes for a short term stimulus payment indefinitely.