Boosting cash flow for employers_calculator

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1	Boosting Cash flow for employers calculator		Prepared by SBO.Financial Last updated 25.3.20
2			Prepared by SBO.Financial Last updated 25.3.20
3			Got questions? Email me at: jason@sbo.financial
4	About
5	The Boosting Cash Flow for Employers measure will provide up to $100,000 back to business, with a minimum payment of $20,000 for eligible businesses and not for profits. The payment will provide temporary cash flow support to small and medium businesses that employ staff. The payment will be tax free.
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7	To summarise:
8	The cash back is calculated on 100% of PAYGW of your wages, paid in 2 separate calculation periods:
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10	Payment Period	Calculation Period	Calculation Method	Benefit
11	Payment 1	1 Jan 2020 - 30 June 2020	100% of PAYGW	Capped at $50,000 for the period, with a minimum of $10,000
12	Additional Payment (Payment 2)	30 June 2020 - 30 September 2020	Calculated as the total benefit per Payment 1, with cash paid over the BAS/IAS lodgement period between 30 June 2020 and 30 September 2020	Capped at $50,000 for the period, with a minimum of $10,000
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14	Timing
15	The Boosting Cash Flow for Employers measure will be applied for a limited number of activity statement lodgments. The ATO will deliver the payment as a credit to the business upon lodgment of their activity statements. Where this places the business in a refund position, the ATO will deliver the refund within 14 days.
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17	Tranche 1 - Period 1 January 2020 - 30 June 2020
18	Type of lodger	Eligible Period	Lodgement Due Date
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20	Quarterly	Quarter 3 (Jan, Feb and March-20)	28 April 2020
21		Quarter 4 (April, May and June-20)	28 July 2020
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23	Monthly	March 2020	21 April 2020
24		April-20	21 May 2020
25		May 2020	21 June 2020
26		June-20	21 July 2020
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28	Tranche 2 - additional payment
29	Type of lodger	Eligible Period	Lodgement Due Date
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31	Quarterly	Quarter 4 (April, May and June 2020)	28 July 2020
32		Quarter 1 (July, August and September 2020)	28 October 2020
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34	Monthly	June 2020	21 July 2020
35		July 2020	21 August 2020
36		August 2020	21 September 2020
37		September 2020	21 October 2020
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39	Monthly lodgers will be eligible to receive the payment for the March 2020, April 2020, May 2020 and June 2020 lodgments. To provide a similar treatment to quarterly lodgers, the payment for monthly lodgers will be calculated at three times the rate (150 per cent) in the March 2020 activity statement.
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41	The minimum payment will be applied to the business’ first lodgment
42
43	CALCULATOR
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50
51	1) QUARTERLY LODGEMENT CYCLE				Cash payment date
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53	TRANCHE 1
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55	Quarter 3, 2020 PAYGW (March-20 BAS)		<< input cell >>
56	Cash flow concession	$10,000			28 April 2020
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58	Quarter 4, 2020 PAYGW (June-20 BAS)		<< input cell >>
59	Cash flow concession	$0			28 July 2020
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61	Total Tranche 1	$10,000
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63	TRANCHE 2 - ADDITIONAL PAYMENT (SAME VALUE AS TRANCHE 1, SPLIT OVER LODGEMENT PERIODS
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65	Quarter 4 (April, May and June 2020)	$5,000
66	Cash flow concession	$5,000			28 July 2020
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68	Quarter 1, (July, August and September 2020)	$5,000
69	Cash flow concession	$5,000			28 October 2020
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71	GRAND TOTAL	$20,000
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73
74	2) MONTHLY LODGEMENT CYCLE
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76	TRANCHE 1
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78	March-20 IAS	$23,358	<< input cell >>		PAYMENT DATE
79	Gross Up (300% to cover Jan, Feb and March months)	$70,074
80		$50,000			21 April 2020
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82	April-20 IAS	$23,358	<< input cell >>
83		$0			21 May 2020
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85	May-20 IAS	$23,358	<< input cell >>
86		$0			21 June 2020
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88	June-20 IAS	$23,358	<< input cell >>
89		$0			21 July 2020
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91	Total Tranche 1	$50,000
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93	TRANCHE 2 - ADDITIONAL PAYMENT (SAME VALUE AS TRANCHE 1, SPLIT OVER LODGEMENT PERIODS
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95	June-20 IAS	$12,500
96		$12,500			21 July 2020
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98	July-20 IAS	$12,500
99		$12,500			21 August 2020
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101	August-20 IAS	$12,500
102		$12,500			21 September 2020
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104	September-20 IAS	$12,500
105		$12,500			21 October 2020