How the levy is calculated The levy is calculated at a rate of 0. Members receiving the Disaster Recovery Payment must complete and send us a flood levy exemption declaration in order not to have the levy deducted from any payments. Download flood levy exemption declaration form Certain lump sum superannuation payments are automatically exempt from the flood levy. Certain people affected by natural disasters will not pay the flood levy Some people affected by natural disasters will be exempt from paying the flood levy, regardless of their taxable income.
How much will you have to pay? Search for:. Latest Post. Passing a Company Resolution. Tax Returns for the Deceased. But billions of dollars are still needed to fix vital infrastructure such as roads and bridges damaged by the floods and storms. The Commonwealth will meet two-thirds of these repair costs through budget cuts. The other third will be covered through this temporary levy. Please note, our Tax Calculator does not include Flood Levy tax , so your actual salary might be a bit different.
Skip to main content. Flood Levy in Australia for After devastating floods in Queensland in Australian Government has introduced a flood levy also known as the Temporary Flood and Cyclone Reconstruction Levy to help fund the rebuilding of essential infrastructure damaged by natural disasters such as roads, bridges, and schools. Who have to pay the flood levy tax? Certain people affected by natural disasters will not pay the flood levy - Some people affected by natural disasters will be exempt from paying the flood levy, regardless of their taxable income.
Where the person has received an Australian Government Disaster Recovery Payment in relation to a flood event in they will be exempt from the levy.
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