You will be eligible to receive the cash flow boost if you are a small or medium business entity, including not-for-profit organisations, sole traders, partnership, company or trust that:
- held an ABN on 12 March 2020 and continues to be active
has an aggregated annual turnover under $50 million (generally based on prior year turnover)
made eligible payments you are required to withhold from (even if the amount you need to withhold is zero).
Eligible payments include:
- salary and wages
eligible retirement or termination payments
voluntary withholding from payments to contractors.
In addition, you must also have either:
- derived business income in the 2018–19 income year and lodged your 2019 tax return on or before 12 March 2020
made GST taxable, GST-free or input-taxed sales in a previous tax period (since 1 July 2018) and lodged the relevant activity statement on or before 12 March 2020.
Full details here