Business
ATO’s ‘hands are tied’ on cash flow boost, JobKeeper anomaly: Tax Institute – AccountantsDaily
Businesses that are seeking redress for their cash-flow boost ineligibility may find their efforts futile unless a legislative amendment is made to correct the anomaly, says one tax expert.
Speaking to Accountants Daily, the Tax Institutes senior advocate, Robyn Jacobson, said that barring a legislative change, the ATO would have no wiggle room to deviate from the cash flow boosts restrictive tax notice requirement.
Under the current law, entities seeking access to the cash flow boost, and those entities who seek access to JobKeeper on the basis of business participation, are required to have notified the commissioner of assessable income derived in the 201819 year, or a taxable s…
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