Declaration of the March 2012 New South Wales and
Victorian Floods as Disasters for Tax Purposes
The Assistant Treasurer, David Bradbury, today declared the March 2012 New South Wales and Victorian floods a disaster for the purposes of establishing Australian disaster relief funds.
This declaration ensures that new funds and qualifying existing funds established for the relief of people in communities affected by the floods, can receive tax deductible donations.
While funds still need to apply for formal endorsement, the Tax Office has established a fast track process to get applications approved as quickly as possible.
"As communities in New South Wales and Victoria that were hit hard by recent floods start to count the cost, Australians from all around the country are pitching in to help out," said Mr Bradbury.
"These events have caused devastation to communities in both States and have resulted in widespread damage to property and the natural environment.
"These donations can be used to provide money or direct assistance for relief, recovery and community reconstruction work to assist affected individuals and communities."
"The Gillard Government will also continue to assist affected communities as they undertake the long task of rebuilding and re-establishing."
Donations to Australian disaster relief funds, established to provide relief in the aftermath of the fires and floods, will be tax deductible for a period of two years from the date of this declaration.
The Salvation Army have advised that they are establishing disaster relief funds to help the people of NSW and Victoria affected by the March 2012 floods. Further information on how to make a donation to the Salvation Army fund will be available from their website.
Further information on establishing an Australian disaster relief fund is available at www.ato.gov.au.
9 March 2012