Author
Kylee Smith
Category
Alerts

The Australian Government is offering a number of ways to provide financial support to those impacted by the recent Queensland rainfall and flooding. The financial support packages of up to $75,000 differ depending on the type of entity that was impacted.

We outline below the various financial assistance available.

Quicklinks

Disaster Recovery Payment – Individuals

The Australian Government is offering a lump sum payment to people in designated local government areas who have been significantly impacted by the South East Queensland floods in February 2022. Minor damage or inconvenience does not qualify you for the payment.

Eligible adults will receive $1,000 and $400 for each child younger than 16.

Who can get it?

You, or a dependent child you are a principal carer for, must:

  • be an Australian resident or hold an eligible visa;
  • meet local government area rules; and
  • be claiming this payment for the South East Queensland floods in February 2022 for the first time.

The applicant must also be 16 years or older at the time of the floods or be receiving a social security payment. Additionally, if you are part of a couple, both may claim this payment where the criteria is satisfied for each person. Separate claims need to be made.

The payment is only available if you have been seriously injured, if you have an immediate family member who has died or is missing or if your home was majorly damaged by the floods.

For New Zealand citizens living in Australia you can check your eligibility here.

How do I apply?

You can make your claim online via myGov. Your myGov account must be linked to Centrelink and evidence of the damage incurred may be required. Further details of how to apply can be found here.

You have until 3 September 2022 to make a claim.

Disaster Recovery Allowance – Individuals

The Australian Government is offering a Disaster Recovery Allowance (DRA) to those who have lost income as a direct result of the February 2022 floods in South East Queensland.

The DRA is a short-term payment for a maximum of 13 weeks, starting from the date you first lose income as a direct result of the February 2022 floods. These payments are taxable.

Who can get it?

To be eligible for the DRA you must:

  • be 16 years or older at the time of the floods;
  • be an Australian resident or hold an eligible visa;
  • work or live in an affected local government area;
  • have lost income as a direct consequence of the floods; and
  • earn less than the average Australian weekly income in the weeks after you lost your income (broadly being $1,737 per week).

If you are part of a couple, both may claim this payment where the criteria is satisfied for each person. Separate claims need to be made.

For New Zealand citizens living in Australia you can check your eligibility here.

However, you cannot receive this payment where you are receiving other particular government assistance such as parental leave pay, dad and partner pay, ABSTUDY living allowance.

How much will I get?

Your allowance will depend on your circumstances. If eligible, you will receive the maximum equivalent rate of JobSeeker Payment or Youth Allowance.

How do I apply?

You can make a claim online via myGov. You can find instructions on how to make a claim for DRA here.

You have until 3 September 2022 to make a claim.

Extraordinary Disaster Assistance Recovery Grants – Organisations

Extraordinary Disaster Assistance Recovery Grants are available for primary producers, small businesses and non-profits directly impacted by the February 2022 South East Queensland floods.

Grants are to assist with the costs associated with the recovery process including clean up, removal of debris, building repairs and purchase of equipment and materials.

Who can get it?

Applicants need to demonstrate their eligibility as a primary producer, small business or a non-profit organisation that:

  1. has suffered damage as a result of the disaster, and
  2. are located in one of the defined disaster areas.

You can find more information on defined disaster areas, eligibility and requirements here.

How much will I get?

Primary producers can receive grants of up to $75,000 through two applications:

  1. An initial amount of up to $15,000 is available where evidence of direct damage is provided (no proof of payment is needed for this application).
  2. A subsequent amount of up to $60,000 is available where full evidence of payment is provided.

Small businesses and non-profits can receive up to $50,000 through two applications:

  1. An initial amount of up to $15,000 is available where evidence of direct damage is provided (no proof of payment is needed for this application).
  2. A subsequent amount of up to $35,000 is available where full evidence of payment is provided.

How do I apply?

To check your eligibility and make an online application, click here.

You have until 5 September 2022 to make a claim.

Disaster Assistance Loans – Organisations

Disaster assistance concessional loans are available for primary producers, small businesses and non-profits directly impacted by the February 2022 South East Queensland floods.

The loans are to assist organisations with re-establishing normal operations by covering costs such as repairing or replacing damaged plant and equipment, essential premises and replacing up to one month’s worth of stock. The specific costs eligible to be covered by the concessional loan is based on the type of organisation.

Who can get it?

Applicants need to be a primary producer, small business or a non-profit organisation that are located in one of the defined disaster areas.

What is the loan amount and features?

Loan amount Maximum of $250,000 (Primary producer and Small business)

Maximum of $100,000 (Non-profit organisations)

Loan term Up to 10 years
Repayments If needed, up to two years interest only may be available.
Security A loan under the scheme must be secured by a mortgage of land and other assets satisfactory to QRIDA.
Fees No establishment fees, no account maintenance fees and no fees for early payout.

How do I apply?

To check your eligibility and make an online application, click here.

You have until 31 December 2023 to make an application.

ATO lodgement deferral for flood-affected areas – Businesses and Individuals

The Australian Taxation Office (ATO) has announced that small businesses and individuals in flood-affected local government areas across Queensland (and New South Wales) with business activity statements and instalment notices due on 28 February or 21 March 2022 will have until 28 March 2022 for lodgement.

The lodgement deferral does not need to be requested provided the affected taxpayers lodge by 28 March. This lodgement deferral does not apply to significant global entities or large businesses.

Importantly this deferral does not change the payment date. Where a payment extension is required due to particular circumstances, a specific request needs to be made. The ATO have advised they will take an empathetic approach to the situation and request.

Varying your PAYG instalments – Businesses and Individuals

If businesses or individuals have been impacted by the recent floods they may consider varying their pay as you go (PAYG) instalments for the 2022 income year and/or claim a credit of past instalments paid. The ATO have announced that they will not apply penalties or charge interest on varied instalments in relation to flood affected taxpayers for the 2022 income year where reasonable care is taken to estimate the end of year tax liability.

We recommend discussing varying your PAYG instalments with your tax agent to ensure a reasonable estimate of the 2022 income tax liability is calculated and any cash flow implications are known.

Learn more

If you have any questions on this topic or need advice for your business, please contact Kylee Smith at [email protected] or your Pilot Advisor on 07 3023 1300.