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ATO helping flood affected areas

Feb 13, 2013

THe Australian Taxation Office (ATO) is helping and support is in place to help people affected by the recent Queensland and New South Wales floods.

I am sure that paying the taxman is the last thing on people's minds right now but in some good news, the ATO has automatically deferred the lodgment and payment dates (excluding large pay as you go withholders) for activity statements to 29 April 2013 for people in some postcodes affected by recent floods.

"You do not need to apply for a deferral or a faster refund, it will happen automatically for people in postcodes affected by the floods. You can visit our website to see the new lodgment dates and check if your region is included," Tax Commissioner Chris Jordan said.

"People can get more information about assistance at www.ato.gov.au or by calling 1800 806 218."

Individuals who want to help the flood affected areas can also claim donations up to $10 made to disaster relief funds for the recent floods in their 2013 tax return without a receipt. 

"Tax matters are the last priority for those affected by the floods - and rightly so. When people are ready, we will work with them to deal with their tax affairs," Mr Jordan said.

Still the same amount of tax to be paid but pushed back by a few months without interest penalties.  I suppose a nicer gesture from the Australian public would have been a lower tax rate but that was never going to happen!

Let's just hope that the flood levy isn't re-introduced after everyone donates again this year.  Something tells me though that everyone is waiting for it to be introduced again & hence hesitant to supporting this time around.

Tags: Chartered AccountantCompany taxGSTSmall Business

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