Following the devastating bushfires, the ATO has offered ongoing support for those impacted when it comes to ‘sorting out their tax affairs’.
In particular, a specific help line has been established (being 1800 806 218), which can be used by impacted taxpayers and their agents seeking assistance to:
- obtain extra time to pay a tax debt or lodge tax forms;
- obtain assistance in finding lost TFNs;
- obtain re-issued income tax returns, activity statements and notices of assessment;
- obtain assistance in re-constructing tax records that are lost or damaged;
- have any refunds owed fast tracked;
- negotiate payment plans tailored to individual circumstances (including interest free periods); and
- negotiate the remission of penalties or interest charged during the time a taxpayer has been affected by the bushfires.
In addition, where a taxpayer’s business or residential address is in one of the identified ‘impacted postcodes’ the ATO has advised it will automatically grant a two-month deferral for activity statement lodgments and payments due.
These postcodes are specifically listed on the ATO website.
Where applicable, the tax and BAS Agent deferrals mean that:
- For a quarterly BAS due on 28 November 2019, the deferred date is 28 January 2020.
- For a monthly BAS due 21 November 2019, the deferred date is 21 January 2020.
- For a monthly BAS due 21 December 2019, the deferred date is 21 January 2020.
However, it should be noted that these deferrals do not apply to large withholders (i.e., those who have previously withheld more than $1 million annually or are part of a corporate group that has).
Importantly, the ATO has confirmed that employers will still need to meet their superannuation guarantee obligations for their employees.
Additionally, impacted businesses that are making purchases in the coming months to replace stock and other losses may wish to continue to lodge and pay as normal, or alternatively, they may consider electing to change the GST reporting cycle they use to report and pay GST monthly to get quicker access to any available net amount refunds.
If your postcode is listed in the bushfire impacted regions, you are eligible for the automatic deferrals. Some postcodes may cover several local government areas. Additional postcodes may be added to the list once damage assessments have been finalised.
Income tax, activity statement, SMSF and FBT lodgments, and their associated payments, will be deferred until 28 May 2020. This deferral is automatic and you do not have to apply if you are in the bushfire impact regions.
If you’ve been affected by this disaster but your postcode is not in the current postcodes list, don’t worry. You can phone the ATO Emergency Support Infoline on 1800 806 218 for help.
This information is constantly changing and we recommend you contact the ATO or a Registered Tax Agent for upto-date information with regards to your personal circumstance.
