Small Business Affected by Bushfires

Government Announced New Small Business Bushfire Support Package

The government has announced a new small business bushfire support package in the form of grants, low-interest loans, and the extension of lodgment deferrals. Announced today, small businesses impacted by the bushfires will be afforded up to $50,000 in tax-free grants and loans of up to $500,000 for businesses that have “suffered significant asset loss…
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Man donating to bushfire relief from self managed super fund

News | Use Caution When Making Bushfire Donations from Super

SMSF trustees hoping to make donations to charitable causes associated with bushfire relief out of their super may run into problems unless they have triggered a condition of release, according to SMSF Alliance. The SMSF administrator’s principal, David Busoli, said in an email update that the issue of funding large-scale donations to bushfire relief charities…
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Family looks on to raging bushfires near their property

News | ATO Grants Automatic Deferrals in Bushfire Support

The ATO has granted an automatic two-month deferral for lodgements and payments to those impacted by the ongoing bushfire crisis. Identified impacted postcodes across New South Wales, Victoria, Queensland and South Australia will be granted an automatic two-month deferral for activity statement lodgements and payments due. Taxpayers or their agents do not need to apply…
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Two Farmers fighting bushfires on their property

News | Accounting Profession Responds to Bushfire Crisis

The professional accounting bodies have begun launching initiatives to help support accountants and their clients affected by the ongoing bushfire crisis. Chartered Accountants Australia and New Zealand (CA ANZ), CPA Australia and the Institute of Public Accountants (IPA) have now confirmed that they will be providing support to communities ravaged by the bushfire disaster. CA…
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