February Floods – Support Payments

It’s our hope that none of our clients have been significantly affected by the floods!

For those that have, the government have thrown the following lifelines:

Disaster Recovery Allowance

The Disaster Recovery Allowance (DRA) is a short term payment (maximum of 13 weeks) to help you if a disaster directly affects your income.

  • To receive this payment, you must meet all of the following.

  • 16 or older at the time of the floods

  • are an Australian resident or hold an eligible visa

  • work or live in an affected Local Government Area (LGA)

  • lost income as a direct result of the storms and floods

  • earn less than the average Australian weekly income in the weeks after you had this income loss ($1,737.10 per week)

If you’re part of a couple, you can both claim this payment. You and your partner will need to make separate claims.

For full details and eligibility on the Disaster Recovery Allowance click here

Extraordinary Disaster Assistance Recovery Grants

QLD

Extraordinary Disaster Assistance Recovery Grants are available to assist directly impacted small businesses, primary producers and non-profits to hire or purchase equipment and materials, clean up, remove debris, replace fencing and other costs associated with the recovery process.

All applicants need to show they are eligible, within the declared disaster area and demonstrate they have suffered direct impact from the disaster. For full details including eligibility, defined disaster area required documents and how to apply click here.

Applications are open now and close 5 September 2022.

NSW

Eligible primary producers can apply now for a Special Disaster Grant of up to $75,000 on the Rural Assistance Authority website.
 
Small businesses and not-for-profit organisations may be eligible for a grant of up to $50,000. At this point it is advised to register your interest here and you will be notified when more information, including eligibility criteria and how to apply, becomes available.

Disaster Assistance Loans:

Disaster Assistance Loans & Disaster Assistance (Essential Working Capital) Loans are available to assist primary producers, small businesses and non-profit organisations with re-establishing normal operations.

Disaster Assistance Loan:

Disaster Assistance Loans of up to $250,000 are available to assist primary producers, small businesses and non-profit organisations who have experienced direct damage as a result of the disaster event. This loan can be utilised to fund repair and reinstatement costs for your business, and to meet normal operating expenses that the business is unable to meet due to the impact of the disaster event (e.g. lease payments, property rates, creditors).

Disaster Assistance (Essential Working Capital) Loan:

An Essential Working Capital (EWC) Loan of up to $100,000 is available to assist primary producers, small businesses and non-profit organisations who have not experienced direct damages as a result of the disaster event, but have experienced a negative impact on their normal business cashflow and are consequently unable to meet normal operating expenses (e.g. lease payments, property rates, wages, creditors). For example, a primary producer, small business and non-profit organisation may be eligible for an EWC Loan if their premises was not physically impacted by the disaster event however suffered a significant loss of income throughout the disaster period. The business may not be able to meet normal operating expenses within its existing credit limits. These requirements over and above your existing credit limits can be met by the EWC loan.

Disaster Recovery Payment

Disaster Recovery payment of $1,000 per eligible adult and $400 per eligible child.

This is a lump sum payment that is available to individuals who have been significantly affected - not for minor damage or inconvenience.

To receive the payment you, or a dependent child you care for, must:

  • Be an Australian resident or hold an eligible visa

  • Live within one of the LGAs (Brisbane, Fraser Coast, Gold Coast, Gympie, Ipswich, Lockyer Valley, Logan, Moreton Bay, Noosa, North Burnett, Redland, Scenic Rim, Somerset, South Burnett, Southern Downs, Sunshine Coast and Toowoomba government areas)

  • Be claiming the payment for these floods for the first time

  • Be 16 years or older at the time of the floods or getting a social security payment

  • You or a dependent child must have also been seriously affected by the storms and floods in order to receive the payment.

For example:

  • If you were seriously injured in the floods

  • If you are an immediate family member of someone who died or is missing

  • If the flood caused major damage to your home

If you have a spouse, both you and your partner can claim the payment, however, you will need to make separate claims.

For full eligibility criteria click here – it is expected that eligibility may be expanded in the coming days as more are impacted by the disaster .

To claim online you need a myGov account linked to Centrelink. If you don’t have a myGov account, you can set one up online.

Once you have a myGov account that is linked to Centrelink you can ‘Apply for Disaster Recovery Payment’ under Claims.

You have until 27 August 2022 to make a claim.

Other financial assistance available:

Stay safe!

Get in touch with m+h Private tax specialists today on +61 3036 7174 if you need support for you and your business.

James Hoeft