The bush fires have hit the mountains hard in so many ways.
Below is a brief compilation of information to assist those affected by the fires:
Claiming repairs and insurance payouts
If you receive an insurance payout for repairs, loss of rent income or any rental property and business premises loss because of the bushfires, please read the following links:
Complete Loss of property
If you have lost your property in the bush fires this will trigger a CGT event – Property that ceases to exist:
* Property that is main residence or being claimed as a main residence (rules apply) is exempt from capital gains/loss.
* Property other than above:
-If compensation has been received (eg insurance payment), this is a capital gain or loss event dated when the compensation is received.
-If no compensation received, the event is dated when this loss is discovered or
the destruction occurred.
RFS volunteer payments
Rural Fire Service Volunteers in NSW who are self-employed or work for small and medium businesses, and who have been called out for more than 10 days this fire season, will be able to apply for the payments. The payments will provide for lost income of up to $300 per day up to a total of up to $6000 per person.
There are restrictions on these payments. Please see link:
NSW Bushfires Australian Government Disaster Recovery Payment / Allowance.
The government is providing support for eligible people adversely affected by the bushfires within New South Wales for the period August 2019 through to January 2020.
Note: there are two types of assistance available, one being the Disaster recovery Payment and the second is a Disaster Recovery Allowance.
Should you need assistance you have until the 5 July 2020 to make a claim.
For more information please read the following links: