ATO offers relief to flood victims



The Australian Taxation Office (ATO) has offered to fast-track tax refunds to victims of the storms in Queensland and give taxpayers more time to pay off their debts without accumulating interest charges.
The tax commissioner, Michael D’Ascenzo, said the tax office understood that this was a trying time for residents in Queensland and that the ATO would move to alleviate the strain on victims.
The tax office also offered to help residents reconstruct destroyed tax records and give them more time to meet deadlines to lodge their tax returns.
Recommended for you
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.