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‘Don’t worry about your SMSF affairs’: ATO tells bushfire victims

Bushfire

The ATO has advised individuals and businesses in bushfire-impacted areas to focus on their family and community, and leave any SMSF-related affairs for a later time.

“If you live in a bushfire-impacted area, we appreciate you need time to focus on your family and community. Don’t be concerned about your SMSF affairs right now — we’ll help you sort out your obligations later,” the Tax Office said in a notice.

If your SMSF’s business or postal address is in an identified bushfire-impacted postcode, the ATO has automatically applied deferrals for activity statements, annual-return lodgements and associated payments.

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“You (or your agent) don’t need to apply for this deferral. It also applies if you’re a member or trustee in an affected postcode, even if your SMSF is not,” the Tax Office said.

It also warned of scammers trying to take advantage of bushfire victims by offering to help them release or access their super at this time.

“If youre offered a scheme that doesn’t meet the early access to super requirements, it may be illegal.

“There are very limited circumstances in which you can access super early. If someone offers to help you access your super and you’re not sure whether it is legal, contact us.” 

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‘Don’t worry about your SMSF affairs’: ATO tells bushfire victims
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