Boosting Cash Flow for Employers (Coronavirus Economic Response Package) Act 2020

SECTION 8   PAYMENT OF CASH FLOW BOOST  
First boosts

8(1)    
If the Commissioner is satisfied that an entity is entitled to a cash flow boost for a period covered by subsection 5(2) , the Commissioner must pay the entity that cash flow boost no later than:

(a) if the entity is a large withholder for the period - the time at which:

(i) the entity must pay the Commissioner, in accordance with Division 33 of the A New Tax System (Goods and Services Tax) Act 1999 , the entity ' s assessed net amount for the tax period in which the period starts; or

(ii) the Commissioner must pay the entity, in accordance with Division 35 of that Act, an amount in respect of the entity ' s assessed net amount for the tax period in which the period starts; or

(b) otherwise - the later of:

(i) the time of the notification mentioned in paragraph 5(1)(e) ; or

(ii) the time at which the entity must notify the Commissioner of its withholding period total for the period in accordance with subsection 16-150(1) in Schedule 1 to the Taxation Administration Act 1953 .

Second boosts

8(2)    
If the Commissioner is satisfied that an entity is entitled to a cash flow boost for a period covered by subsection 6(2) , the Commissioner must pay the entity that cash flow boost no later than the latest of the following times:

(a) the time of the notification mentioned in paragraph 6(1)(c) ;

(b) the time at which the entity must give the Commissioner its GST return for the tax period corresponding to the period in accordance with Division 31 of the A New Tax System (Goods and Services Tax) Act 1999 ;

(c) the time at which the entity actually gives the Commissioner that GST return.

8(3)    
Subsection (2) does not apply if the 2019-20 financial year is an annual tax period that applies to the entity or if the entity is not registered (within the meaning of the A New Tax System (Goods and Services Tax) Act 1999) . Instead, if the Commissioner is satisfied that the entity is entitled to a cash flow boost for a period covered by subsection 6(2) , the Commissioner must pay the entity that cash flow boost no later than the later of:

(a) the time of the notification mentioned in paragraph 6(1)(c) ; or

(b) either:

(i) if the period is the quarter ending on 30 June 2020 - 28 July 2020; or

(ii) if the period is the quarter ending on 30 September 2020 - 28 October 2020.