Affected by a natural disaster?

The ATO has reminded businesses and individuals affected by the NSW and South-East Queensland floods in March, and by bushfires in Western Australia and Cyclone Seroja, that it can help if they are having trouble meeting tax and super obligations. Depending on the particular circumstances, the ATO may:

  • give extra time to pay a debt or lodge tax forms such as activity statements;
  • help re-construct tax records that are lost or damaged;
  • fast track refunds;
  • set up a payment plan tailored to individual circumstances, including interest free periods;
  • remit penalties or interest.

For more information about support available, visit ato.gov.au/disasters or phone 1800 806 218.

Note!  Disaster recovery grant payments in relation to the storms and floods that occurred in February and March 2021 will be exempt from tax once the enabling legislation (presently in Parliament) becomes law.

Tip!  If you have been affected by floods, bushfires or other natural disasters, you can discuss your options with your tax adviser.

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Thompsons Australia Newsletters and articles are distributed by professional tax practitioners to provide information of general interest to our clients. The content of this newsletter does not constitute specific advice. Readers are encouraged to consult their tax adviser for advice on specific matters.