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With four different states facing catastrophic flooding, the Tax Office has revived previous support schemes.
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ATO relaxes lodgment deadlines for flood-hit zones
21 October 2022
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The ATO has revived its support program for flood-hit areas to give additional time for lodgment and other assistance to those impacted.
Depending on personal circumstances, the ATO would extend deadlines for accountants and tax agents to pay tax or lodge forms such as business activity statements.
Where important documents or data had been lost in the floods, the tax office could provide information it had on file.
This could range from lost tax file numbers — which can be provided by verifying individuals’ identities through information such as date of birth, address, and bank account details — to reissuing documents such as income tax returns, activity statements, and notices of assessment.
The ATO said it could also assist in reconstructing tax records that were lost or damaged so those in need can claim entitlements or access government payments.
It would prioritise any refunds owed to those suffering along with setting up a payment plan tailored to each individual’s situation if required, said the ATO.
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Penalties and interest would be suspended during the time either the accountant, tax agent, or their client were affected by the flooding.
Tax agents or accountants who faced longer-term disruption due to the flooding could also access further assistance from the Tax Office through the support of their lodgment program.
The tax office would take into consideration the accountant's circumstances and recommend tailored support for their practice through the supported lodgement program, if the practice or operations had been significantly disrupted.
Additionally, the ATO said it could visit businesses and clients to help reconstruct their lost or damaged tax records or work out reasonable estimates if that was not possible.
A cash flow coaching kit is available from the ATO to help accountants assist clients with managing cash flow and liquidity during the recovery from a disaster.
For more information about ways tax agents and accountants can help clients affected by the floods, or are themselves affected call 1800 806 218 or visit https://www.ato.gov.au/Tax-professionals/Your-practice/Tax-and-BAS-agents/Disaster-events
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