PSLA 2020/1 – ‘Cashflow Boost’ measure – Commissioner’s guidance on when further time discretion should be exercised for ABN registration or notice of assessable income or taxable supplies

On Friday 1 May 2020, the ATO released Practice Statement Law Administration  which, for Cashflow Boost eligibility purposes, provides guidance on the relevant circumstances that should be taken into account when the Commissioner is considering whether to grant further time for an entity to (1) register for an ABN; or (2) to provide notice of income or taxable supplies during the relevant period to the Commissioner. See related TT article about the Cashflow Boost measure.

See below for a summary of the Practice Statement.

[Tax Month – April 2020]