loader image

Home > Blog > Support for small businesses and not-for-profit organisations affected by the floods

Support for small businesses and not-for-profit organisations affected by the floods

Date: 16 March 2022

Small businesses and not-for-profit organisations affected by the floods in parts of Queensland and NSW will have more time to lodge their business activity statements and instalment notices with an original due date of 28 February 2022 or 21 March 2022. Those taxpayers can lodge relevant returns up until 28 March 2022 without the need for a lodgment deferral. However, taxpayers need to be aware that the payment due date for these lodgments will not change, so general interest charges (GIC) may apply to any payments not made by the original payment date.


To further help flood-impacted small businesses + non for profits with cash flow, a refund of previously paid PAYG instalments can be claimed, and any GST refunds “fast-tracked”. Small businesses will also change their GST reporting cycle and vary their PAYG instalments without penalty, provided reasonable care is taken. Any flood-affected businesses that cannot meet their lodgment and payment obligations are encouraged to contact the ATO directly for tailored support. Below is a summary of financial support available with links to services.

Summary of Financial Support

Disaster recovery grantup to $50,000 to help pay for the cost of clean-up and resuming operations.

Disaster recovery allowancea 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 relieffor 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.

Need help?

If your small business needs help in deferring your tax obligations due to the floods, we can help liaise with the ATO on your behalf and work out the best plan for your situation. We can also help guide you through these and many other support payments as well as the tax consequences of each.

**The material and contents provided in this publication are informative in nature only. It is not intended to be advice and you should not act specifically on the basis of this information alone. If expert assistance is required, professional advice should be obtained.

Start today

To discuss with one of our estate planning experts. Start by emailing us at enquiries@rm.net.au

Contact Us +

Know More

NSW First home buyer property tax

NSW First home buyer property tax

From Saturday 12 November 2022 first home buyers can opt in to pay an annual property tax rather than stamp duty when buying their first home. The Bill to introduce this measure has completed its passage through NSW parliament and received assent today [Friday 11...

read more
Are Your Contractors Employees?

Are Your Contractors Employees?

Two landmark cases before the High Court highlighted the problem of identifying whether a worker is an independent contractor or employee for tax and superannuation purposes. Many business owners assume that they will not be responsible for PAYG withholding,...

read more
Succession planning – NSW farming families

Succession planning – NSW farming families

The stamp duty exemption for farms in NSW has recently been broadened and will greatly increase the succession planning options available to families in the rural sector.   The past exemption for transferring farming properties between generations requires the...

read more