Overview – ATO deferrals
From 25 January 2019, North Queensland received heavy rainfall originating from a monsoon trough. This resulted in some locations receiving rainfall in excess of 1500mm causing significant flooding.
With consideration of the immediate effect on business cash flow, the Australian Taxation Office (ATO) is automatically providing a one month extension for tax obligations that would normally be due in the month of February 2019. This extension will apply to both the lodgement and payment of these obligations.
Summary of ATO deferrals
If your business or residential address is in one of the identified highly impacted postcodes, the ATO will make arrangements to defer the following tax obligations:
- Monthly activity statements due 21 February 2019 – deferred to 21 March 2019
- Quarterly activity statements due 28 February 2019 – deferred to 28 March 2019
- Income tax returns due 28 February 2019 – deferred to 28 March 2019
- Fringe benefit tax returns due 28 February 2019 – deferred to 28 March 2019
Please note that the above extensions are automatic and you do not need to apply for a deferral.
These arrangements are in line with the financial assistance made available through Australian Government Disaster Recovery Payments (AGDRP).
These deferrals do not apply to large withholders. Large withholders are those tax payers that previously withheld more than $1 million annually (or are part of a corporate group that has).
Affected postcodes
Following are the local government areas and postcodes in Queensland that have been granted through AGDRP.
Please click here to view a list of eligible post codes.
Additional postcodes may be added to the list once damage assessments have been finalised.
