Help for flood affected businesses

If you’re a small business who has been adversely affected by the South East Queensland floods, the Australian Taxation Office (ATO) is urging you not to stress about your tax compliance.

For flood affected businesses located within one of these local government areas (LGAs), the ATO is offering a range of practical options to support small businesses, including:

• Help with activity statements and instalment notices
• Reconstructing your tax records
• Early access to your money

If your situation is more urgent, there are more options available via the support in difficult times section of the ATO website, which you can access here.

JCU Australia Tax Clinic (Northern Queensland) and the Griffith Tax Clinic (Southern Queensland) are friendly, student-run clinics where you will receive information and advice from university taxation students under the supervision of experienced tax practitioners.

These clinics aim to assist small businesses in meeting or complying with their taxation affairs. You can contact the clinics who may be able to help your business with the below:

• applying to have penalties cancelled
• responding to notices from the ATO
• negotiating a payment plan
• if you are dissatisfied with an assessment and want to know what your rights are.