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Natural Disaster Dec 2010

 

Natural Disaster Relief

 

Below is a section taken from the Rural Assistance Authority Website: http://www.raa.nsw.gov.au/.  This forms part of a news release from the NSW Government released 13th December 2010 titled NATURAL DISASTER DECLARED IN FOUR MORE AREAS - GOULBURN MULWAREE, COWRA, COOLAMON AND TAMWORTH. 

 

“The following Schemes are available under the NSW Natural Disaster Relief Arrangements:

 

 

Personal Hardship and Distress Assistance

 

Community Services (formerly DoCS) can provide disaster relief grants to eligible individuals and families whose homes and essential household items have been destroyed or damaged by a natural disaster. People with limited financial resources and

no insurance may be eligible for assistance for essential household items and structural repairs to the home.

 

Inquiries about the disaster relief grants and the eligibility criteria may be made by contacting Community Services, Disaster Welfare Services on 1800 018 444.  Website: www.community.nsw.gov.au

 

 

Primary Producers- Loans

 

Loans of up to $130,000 are available (subject to certain eligibility criteria), at a concessional interest rate of 2.77 per cent, for those in urgent need. These loans may be used to meet carry-on requirements and the replacement and repair of damage not covered by insurance. The NSW Rural Assistance Authority (now part of Industry & Investment NSW) administers this scheme.

 

Inquiries should be directed to the Authority on 1800 678 593. Website: www.raa.nsw.gov.au

 

Primary Producers- Transport Subsidies

 

Transport freight subsidies of up to 50 per cent on the carriage of livestock and fodder are available to help primary producers. The maximum subsidy available is $15,000 per annum. Inquiries should be made to the nearest Industry & Investment NSW- Primary Industries office (formerly Department of Primary Industries). The public inquiry number is 1800 814 647. Website: www.dpi.nsw.gov.au

 

Small Businesses

 

Loans of up to $130,000 are available at a concessional rate of 2.77 per cent to small businesses affected by disasters and which meet certain eligibility criteria. This finance is available to those unable to obtain assistance through normal channels.  The NSW Rural Assistance Authority (now part of Industry & Investment NSW) administer this scheme. Inquiries should be directed to the Authority on 1800 678 593. Website: www.raa.nsw.gov.au

 

Sporting Clubs

 

A special scheme is available to assist sporting clubs in meeting the costs of restoration of essential club facilities that have been damaged or destroyed. The assistance is made available to those clubs which do not have the financial capacity to meet restoration costs from their own resources, but which have the capacity to repay any loan that may be granted.  Under these arrangements the maximum assistance available is $12,000, including a grant of up to $2,000 and the balance by way of repayable advance with interest at the rate of 2.77 per cent per annum. Treasury administers this scheme. The contact person is Brian Lin on (02) 9228 5198. This finance is available to those unable to obtain assistance through normal channels.

 

 

Churches and Voluntary Non-profit Organisations

 

Loan assistance is available to churches and voluntary non-profit organisations for the restoration of essential facilities that have been damaged or destroyed. Eligible groups will usually perform a service for the community or environment and are funded by grants or donations.  Non-profit organisations that perform a commercial function, charge a fee for a service or represent commercial or industrial groups, e.g. industry bodies are not eligible for assistance. These organisations can recover costs from their members or through fees. As with other schemes, assistance is only available to those organisations which do not have the financial capacity to meet restorations costs from their own resources, insurance and are unable to obtain assistance through normal channels. Advances are subject to a maximum of $25,000 at 2.77 per cent interest per annum. Treasury administers this scheme. The contact person is Brian Lin on (02) 9228 5198.

 

Motor Vehicle Stamp Duty Relief

 

Motorists whose cars have been written off as a result of a natural disaster may be eligible for a stamp duty refund on their replacement vehicle. Refunds are made where the written off vehicle was comprehensively insured and the insurance does not cover duty for a replacement vehicle. The Office of State Revenue administers these refunds and can be contacted on 1300 139 814. Website: www.osr.nsw.gov.au

 

Information Reference: RAA Website . http://www.premier.nsw.gov.au/sites/default/files/101213-natural-disaster-declarations.pdf

Please note that this is general advice only and is not intended to cover every aspect of your situation.  If you have some questions on its applicability to you, please discuss with us.

ATO starts major credit and debit card Data Matching Program

The Tax Office (ATO) is undertaking a major compliance program which will involve electronically matching transactions of approximately 200,000 businesses with certain sections of ATO data holdings to identify non-compliance with registration, reporting, lodgment and payment obligations under taxation law.

To do so it has received data from banks that identifies credit and debit card sales made by Australian businesses.

This data is matched against taxpayer records to identify those participating in the cash economy and who are potentially skimming some or all of their cash takings or in other ways not reporting all of their income.

This project uses data relating to transactions conducted between 1 July 2009 to 30 June 2010.

How the ATO uses the data

The Tax Office says that bank data is used to improve compliance with tax obligations by allowing the ATO to:

u      identify businesses that are operating underground and not participating in the tax system;

u      identify businesses that are potentially skimming some or all of their cash takings or in other ways not reporting all their income;

u      identify businesses that are reporting sales outside the benchmark ratio of cash sales to total sales for their industry segment; and

u      establish benchmark ratios for cash sales to total sales for particular industry segments.

Where appropriate, the data obtained will be used to support default assessments of a business's tax liabilities.

For the period 1 July 2009 to 30 June 2010, the ATO will request and electronically match data relating to credit and debit card sales of entities within various industries from the following sources:

u  Commonwealth Bank of Australia;

u  Westpac Banking Corporation;

u  ANZ Banking Group Limited;

u  National Australia Bank Limited;

u  Bendigo and Adelaide Bank Limited;

u  Bank of Queensland Limited; and

u  BWA Merchant Services Pty Ltd.

The ATO is urging businesses that have under-reported their income to contact them to make a voluntary disclosure of any under-reported amounts.

Please Note: Many of the comments in this publication are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the information’s applicability to their particular circumstances.

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