Tax Help For Australia’s Flood Affected Areas

by Mary Swire, Tax-News.com, Hong Kong

06 January 2011

Australian Acting Tax Commissioner Bruce Quigley said on January 5 that the Australian Tax Office (ATO) is implementing a range of support strategies to help people affected by the continuing floods in Queensland, including the deferral of lodgement dates and the implementation of General Interest Charge (GIC) stoppers, for businesses, taxpayers and tax practitioners.

“At this time I understand that for many people and businesses their tax affairs are the furthest thing from their minds,” Quigley said. “That’s the way it should be. But when you’re ready, we will work with you to help you sort out your tax affairs. In the meantime if you have been affected by the floods and receive any correspondence from us that you’re not ready to deal with, please contact us and we’ll make special arrangements for you,” he said.

The Tax Office has set-up a dedicated emergency support info line for people affected by the floods.

The ATO has pledged to help people in affected areas by fast tracking refunds; giving people extra time to pay debts without interest charges; giving more time to meet BAS (business activity statement) and other lodgement obligations without penalties; helping reconstruct tax records where documents have been destroyed and make reasonable estimates where necessary; offering visits from field officers to help reconcile lost records, and helping them claim tax hardship concessions.

Bill Shorten, Assistant Treasurer, said: “The Gillard Government is determined to provide whatever assistance is necessary to people in need as a result of the Queensland floods crisis. This support by the ATO is one small but very real way we can make things just that little bit easier for people”.

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