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

SECTION 11   TIME LIMITS FOR CASH FLOW BOOST  

11(1)    
Despite anything in this Act:

(a) the Commissioner must not pay an amount by way of a cash flow boost after 30 June 2026; and

(b) if:

(i) an entity is entitled to a cash flow boost for a period (disregarding this paragraph); and

(ii) the Commissioner would contravene paragraph (a) by paying that cash flow boost;

the entity is not entitled to the cash flow boost for the period.

11(2)    
Despite anything in this Act:

(a) the Commissioner must not pay an amount by way of a cash flow boost for a period if the entity fails to notify the Commissioner, in the approved form lodged with the Commissioner and by the deadline mentioned in subsection (3), of:

(i) for a period covered by subsection 5(2) - its withholding period total for the period; or

(ii) for a period covered by subsection 6(2) - its entitlement to the cash flow boost for the period; and

(b) if:

(i) an entity is entitled to a cash flow boost for a period (disregarding this paragraph); and

(ii) the Commissioner would contravene paragraph (a) by paying that cash flow boost;

the entity is not entitled to the cash flow boost for the period.

11(3)    
For the purposes of paragraph (2)(a), for a period covered by subsection 5(2) , the deadline is 2 years after the day on which the entity must notify the Commissioner under subsection 16-150(1) in Schedule 1 to the Taxation Administration Act 1953 of an amount that it must pay the Commissioner in respect of an amount that it withheld in the period.

11(4)    
For the purposes of paragraph (2)(a), for a period covered by subsection 6(2) , the deadline is:

(a) unless paragraph (b) applies - 2 years after 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 ; or

(b) if the 2019-20 financial year is an annual tax period that applies to the entity:

(i) if the period is the quarter ending on 30 June 2020 - 28 July 2022; or

(ii) if the period is the quarter ending on 30 September 2020 - 28 October 2022.