Tag: disaster

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NSW State Budget 2023-24

Posted on | by Allan Hall

The 2023-24 NSW State Budget has a strong focus on tightening tax compliance, as well as changes to a number of exemptions and duties:

  • Funding Revenue NSW to Target Tax Compliance
  • Land Tax – Closing the loophole for Principal Place of Residence Exemption
  • Landholder Duty – changes to threshold for acquiring a “significant interest” in a private trust
  • Fixed and nominal duty amounts increased

This year’s NSW State Budget does not explicitly mention specific measures targeted at small businesses. However, it does mention some broader economic and infrastructure initiatives that could indirectly benefit small businesses. These include:

  1. Toll Reform: Introducing a two-year toll cap and streamlining motorway pricing
  2. Infrastructure and Transport: Investments in infrastructure projects, including road upgrades and improved public transportation
  3. Energy Relief and Reform: Addressing high energy costs through rebates and energy market reforms
  4. Disaster Relief: Funds allocated for natural disaster support and recovery programs.

Measures for First Home Buyers

The State Budget includes an expansion to the First Home Buyers (FHBs) Assistance Scheme to support FHBs with a stamp duty exemption for purchases up to $800,000 and a concession for purchases between $800,000 and $1 million.

Five out of every six first home buyers will pay no stamp duty, or a concessional rate after the Government expanded stamp duty exemptions and concessions from 1 July 2023. According to preliminary figures, more than 1,000 FHBs purchasing in the $650,000 to $800,000 range have availed themselves of the full exemption from stamp duty in July under the scheme.

The measures announced in the 2023-24 NSW State Budget can have implications for the business environment in New South Wales, including those for small businesses and are outlined in the Treasury and Revenue Legislation Amendment Bill 2023 expected to be implemented from 1 February 2024, once the Bill has been passed by Parliament.

CONTACT ALLAN HALL BUSINESS ADVISORS

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Disaster assistance for NSW flood-impacted primary producers

Posted on | by Allan Hall

Primary producers affected by ongoing flooding in NSW can apply for recovery grants of up to $25,000. 

The jointly funded Commonwealth-State Disaster Recovery Funding Arrangements are aiding those impacted by recent natural disasters.

Key points:

  • Grants are available for eligible primary producers in the Local Government Areas that have been disaster declared from the most recent storm and flood event.
  • Assistance is available for the immediate clean-up and recovery costs to repair extensive damage to properties. 

A full list of eligible LGAs can be viewed on the NSW Rural Assistance Authority’s (RAA’s) Declared Natural Disasters webpage. 

Primary producers are encouraged not to self-assess and should consult their local Rural Financial Counselling Service or apply for the scheme so that the RAA can determine eligibility. 

For more information, or to lodge an application, visit www.raa.nsw.gov.au or call the RAA on 1800 678 593. If you are a farmer or a member of the community requiring an emergency response regarding livestock or animals, call 1800 814 647. 

CONTACT ALLAN HALL

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ATO support for flood-affected areas

Posted on | by Allan Hall

Disaster events

If you or your business is affected by a major incident or natural disaster that causes disruption to life or work, the ATO can work with you to help sort out your tax affairs.

Current events

If your business has been affected by the floods and you need support, contact the ATO when you are ready for tailored support.

How the ATO can support you

Depending on the situation, the ATO may be able to:

  • give extra time to pay tax or lodge tax forms such as activity statements or other forms
  • find your tax file number (TFN) by verifying identity using key information such as date of birth, address and bank account details
  • re-issue documents including income tax returns, activity statements and notices of assessment (for example if needed to access government payments or concessions)
  • help you reconstruct tax records that are lost or damaged so you can claim entitlements including income tax deductions or access government payments
  • prioritise any refunds owed to you
  • set up a payment plan tailored to your individual situation
  • remit penalties or interest charged during the time you have been affected.

When appropriate, varying their pay as you go (PAYG) instalments may be considered.

For assistance:

CONTACT ALLAN HALL

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Getting help during coronavirus (COVID-19)

Posted on | by Allan Hall

If you need a payment during coronavirus (COVID-19)

There’s support available if you or your family were affected by coronavirus (COVID-19).

Pandemic Leave Disaster Payment is support if you can’t earn an income because you or someone you’re caring for has to self-isolate or quarantine due to COVID-19.

Crisis Payment for National Health Emergency (COVID-19) is a one-off payment. It’s for people who get an income support payment and are in severe financial hardship due to COVID-19.

If you need ongoing financial support

If you need another payment or service, read more about getting a Centrelink payment.

CONTACT ALLAN HALL

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Flood Property Assessment Program NSW

Posted on | by Allan Hall

Flood property assessments for owners and tenants in NSW

This program provides property assessments for owners and tenants in eligible areas impacted by the NSW February and March 2022 floods.

  • What you get: Flood property assessment
  • Who this is for: Property owners and tenants located in eligible NSW flood-affected areas.

Overview

If your residential or commercial property was impacted by the February and March 2022 floods, you can register to have a property building condition assessment carried out by certified inspectors.

If the assessment finds the property to be unsafe or beyond economical repair, you can choose to have demolition and removal of waste services undertaken at no cost.

If your property can be repaired, you’ll be provided with a scope of repair works.

What are the eligibility criteria?

Property owners and tenants can register for the program if the property is: 

How do you apply?

Find out more about eligibility and how to apply at Flood Property Assessment Program or register online using the Request for Assistance Form.

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NSW flood clean-up assistance

Posted on | by Allan Hall

July 2022 flood support

Organisations in disaster-declared Local Government Areas (LGAs) are eligible for a range of support.

Small business grant

Up to $50,000 is available for eligible small businesses and not-for-profit (NFP) organisations affected by the July floods.

Payments can go towards the cost of safety inspections, building repairs, cleaning equipment, materials needed to resume trade, disposing of debris and spoiled stock, or leasing a temporary workspace. 

APPLY FOR THE SMALL BUSINESS GRANT

Disaster Relief Loans

You may be eligible for a low-interest loan to help you replace and repair damage caused to property.

Small businesses, NFPs and sporting clubs affected by the February/March or the July 2022 flooding may apply.

Call the Rural Assistance Authority on 1800 678 593 for further details.

APPLY FOR A DISASTER RELIEF LOAN

For other guidance for flood-impacted households and businesses on dealing with water inundation and staying safe during clean-up visit https://www.nsw.gov.au/floods/recovery/clean-up-advice.

CONTACT ALLAN HALL

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Small business and non-profit storm grants extended to Northern Beaches LGA

Posted on | by Allan Hall

NSW Small Business and Primary Producer recovery grants

Grants extended for small business and primary producers to communities impacted by summer storms

The Australian and New South Wales governments have extended Small Business and Primary Producer recovery grants to help residents impacted by a number of significant storm and flood events that occurred from October 2021 to March 2022.

Key points

  • The $50,000 grants for small businesses and non-profit organisations will be extended to the Northern Beaches LGA impacted by a severe storm on 19 December 2021
  • The $50,000 Recovery Grant Program for primary producers and small businesses impacted by storms and floods in November and December 2021 has been extended to Albury, Bland, Goulburn Mulwaree, Greater Hume, Griffith, Hilltops, Narrandera and Temora – all of which were impacted by the Southern NSW storms and floods from 5 January 2022 onwards
  • Lithgow LGA was impacted by the severe storm on 11 January 2022 and is also eligible for the $50,000 Primary Producer Recovery Grants and the Small Business Recovery Grants
  • The Coffs Harbour LGA impacted by severe weather on 20 October 2021 will also be eligible for Small Business Recovery Grants.

Support is designed to provide targeted short-term assistance to help flood-affected communities bounce back from catastrophic floods.

The extension is provided under Category D of the jointly-funded Commonwealth-State Disaster Recovery Funding Arrangements (DRFA) and is designed to offer equal access to small businesses, primary producers and not-for-profits the tools they need to clean up, rebuild and keep operating.

Anyone in NSW who has suffered as a result of storms and floods this summer is encouraged to contact Service NSW and find out what you are eligible for or call 13 77 88.

Please liaise with the relevant agencies directly and contact us if you require support in making an application for funding.

CONTACT ALLAN HALL

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Relief for flood-affected communities

Posted on | by Allan Hall

Help for businesses affected by storms and floods

Financial support

We outline both state and federal financial recovery assistance for people impacted or affected by the recent NSW floods.

Please liaise with the relevant agencies directly and contact us if you require support in making an application for funding.

Small business and not-for-profit organisations

  • Disaster recovery grant – up to $50,000 to help pay for the cost of clean-up and resuming operations
  • Disaster recovery allowance – a short-term income support payment to assist if you’ve lost income as a direct result of the floods, provided by the Australian Government
  • Stamp duty relief – for replacing insured commercial motor vehicles written off due to floods and storms
  • Disaster relief loans – concessional interest rate loans up to $130,000 for small businesses and up to $25,000 for not-for-profit organisations.

Primary producers

  • Special disaster grant – up to $75,000 to help pay for the cost of clean-up and resuming operations
  • Disaster recovery allowance – a short-term income support payment to assist if you’ve lost income as a direct result of the floods, provided by the Australian Government
  • Stamp duty relief – for replacing insured commercial motor vehicles written off due to floods and storms
  • Natural disaster transport subsidy – up to $15,000 to cover costs of transporting fodder/water to an affected property, stock to sale or slaughter and stock to/from agistment
  • Disaster relief loans – concessional interest rate loans up to $130,000 for business continuity and to replace or repair damage not covered by insurance
  • Flood-affected farmers and land managers who require assistance with livestock assessment, veterinary assistance, emergency fodder and livestock euthanasia or burial, can call 1800 814 647.

Sport and recreation clubs

  • Disaster relief grant – up to $2,000 to assist with clean-up and restoring essential facilities and equipment
  • Disaster relief loans – concessional interest rate loans up to $10,000 to help meet the costs of restoring essential club facilities, equipment or other assets

Clean-up support

Flood-impacted businesses will receive clean-up assistance, including the removal of debris, mud and green waste.
 
Skip bins and dump trucks have started to appear on the streets. Where there are no skip bins or dump trucks available, separate waste on the kerbside until they arrive.

Cleaning up after a natural disaster can be dangerous. Here’s some advice on how to clean up safely and deal with hazardous waste.

Request clean up support »

Additional support

Use the Disaster Assistance Finder to generate a customised list of flood recovery services.

Also, taxpayers in flood-affected local government areas in NSW and QLD are provided with immediate tax relief to alleviate pressures on cash flow and operations.

The Treasurer announced that affected taxpayers will be eligible to receive the following concessions:

  • additional time to meet their upcoming Business Activity Statement (BAS) obligations
  • taxpayers paying PAYG instalments on a quarterly basis are eligible to vary upcoming instalments and receive a refund of previously paid instalments
  • claims for GST refunds will be expedited to ensure eligible taxpayers promptly receive their payments
  • small business and individual taxpayers will be able to notify the ATO about their circumstances to assist them in their situation.

The ATO has also announced that small businesses and individuals who need to lodge a BAS or instalment with an original due date of 28 February 2022 or 21 March 2022, and are not able to lodge by that date, may lodge these returns by 28 March 2022 without needing to request a lodgement deferral. Taxpayers who are unable to lodge by the new deadline of 28 March 2022 should contact the ATO and apply for a deferral as required.

The ATO has indicated that the payment due date will remain the same for these returns, but they will take an empathetic approach to the situations of affected taxpayers. Note that this concession does not apply to significant global entities or large businesses, who should contact the ATO to discuss their situation.

The ATO understands that tax is not your number one priority at this time, however you are encouraged to lodge when you can. The ATO has established an emergency Infoline on 1800 806 218 to answer any questions or provide urgent support to taxpayers.

Mental health support

Natural disasters, cleaning up and recovery can take a toll on your mental and physical health. It’s important for you to seek support and look after your own and your employees’ wellbeing.

Find out more »

CONTACT ALLAN HALL

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Australian Government Disaster Recovery Payment flood assistance

Posted on | by Allan Hall

Commonwealth assistance for NSW and QLD flood victims

Australian Government Disaster Recovery Payment (AGDRP) of $1,000 per eligible adult and $400 per eligible child is now available for people impacted by a flooding event.

Residents in 26 flood-affected local government areas across New South Wales and Queensland can start applying for Commonwealth financial support through Services Australia from 1 March 2022.

  • Eligible residents can claim support via myGov or by calling Services Australia on 180 22 66
  • Claims for AGDRP and DRA for NSW local government areas will be open at 2pm (AEDT) from 1 March 2022
  • Affected Queensland local government areas can claim AGDRP from 9am (AEST) and can claim DRA from 1pm (AEST) from 1 March 2022
  • The DRFA assistance provides grants of up to $180 per person, to a maximum of $900 for a family of five or more.

Financial support has now been activated for Northern New South Wales local government areas of Ballina, Bellingen, Byron, Clarence Valley, Coffs Harbour, Kyogle, Lismore, Richmond Valley and Tweed.

Queensland residents in Brisbane, Fraser Coast, Gold Coast, Ipswich, Lockyer Valley, Logan, Moreton Bay, Noosa, Redland, Scenic Rim, Somerset, South Burnett, Southern Downs, Sunshine Coast and Toowoomba local government areas are also included.

These communities are in addition to the local government areas of Gympie and North Burnett, who became eligible to apply on 28 February 2022. Payments are available in Gympie and North Burnett local government areas and the Queensland Government is responsible for activating these payments.

The AGDRP is a one-off, non-means-tested payment and is available to eligible people in those affected local government areas who have suffered a significant loss, including a severely damaged or destroyed home or serious injury.

Disaster Recovery Allowance

The Disaster Recovery Allowance (DRA) will also be provided into the 26 affected local government areas.

The DRA assists employees, small business persons and farmers who experience a loss of income as a direct result of a major disaster. This allowance provides for a maximum of 13 weeks payment from the date you have or will have a loss of income as a direct result of a disaster. The DRA payment is set at the maximum equivalent rate of Jobseeker Payment or Youth Allowance, depending on your personal circumstances, and is taxable.

For more information on support available, visit servicesaustralia.gov.au/disaster

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