With many Australians continuing to face challenging conditions or in varying stages of recovery due to the catastrophic floods in Queensland and New South Wales, the Australian Taxation Office is reassuring flood victims that support is available.
Andrew Watson, ATO assistant commissioner, said flood-impacted Australians should not worry about tax and focus on current concerns. Those who are able can contact the ATO or their tax professional if they are struggling to meet their tax obligations or if they need additional support.
“We want to assure the community that support is available if and when you need it,” Watson said. “We understand the lasting impacts disasters like this can have for affected communities. We are committed to assisting people to get back on track.”
There is support available for small business and individual taxpayers in affected LGAs in Queensland and NSW who need to lodge business activity statements and instalment notices with original due dates of Feb. 28 or March 21.
“There is no need for taxpayers impacted by floods in these local government areas to call and request a deferral for business activity statements that are now due,” Watson said.
These taxpayers have until March 28 to lodge relevant returns. If unable to lodge by that date, they or their tax professional can apply for a deferral, which will be granted on a case-by-case basis.
ATO also has a range of practical options available to support flood-impacted Australians. The office will develop a tailored plan for both individual taxpayers and small business owners, depending on their individual circumstances.
“The payment due date of these lodgements will not change,” Watson said. “However, we will take an empathic approach to your situation.”
For taxpayers whose records have been damaged or destroyed during a disaster or incident, ATO can re-issue copies of income tax returns, activity statements, and notice of assessments. If they have lost their tax file number, the office can use another method to verify the person and help them access their tax information.
If the individual’s tax circumstances have changed because of floods, they can change their GST reporting cycle to monthly reporting and payment and vary their PAYG instalments.
For more information, visit ato.gov.au/NaturalDisasters or call ATO’s dedicated emergency support line at 1800 806 218.
