The $20,000 Disaster Relief Payments for NSW Flood Victims

It has been a testing start to 2022 for our nation; navigating through a two-year-long pandemic and torrential flood on the east coast of Australia has left many grasping at straws.

NSW, in particular, have been hit with heavy rainfall and floods, leaving many NSW locals wondering when they’ll catch a break.

The state government’s decision to provide the $20,000 disaster relief payment for NSW flood victims has been a welcomed gesture for many citizens affected by the natural disaster, easing pressure on the thousands affected.

As part of large relief packages state-wide, a further $112 million has been set aside for flood-impacted renters, landlords and homeowners.

Though the plan is to begin rolling out payments as soon as possible, the flood disaster relief payment in NSW is still in its teething stages and will be available in the coming weeks.

What Sort Of Relief Payments are on Offer?

The welcomed announcement adds much-needed assistance as the flood relief payment for NSW enables those with damaged properties to apply for the payment.

Renters, landlords and homeowners are set to benefit from the newly appointed cash influx. In addition, those who have had their homes damaged due to the floods can apply for the flood disaster relief payment in NSW.

In addition to lending a helping hand in such trying times, the government’s incentive is to make homes safe and habitable for residents across the coast.

Payment And Eligibility

In the latest round of funding for flood victims, the NSW government have announced cash grants of up to $20,000 for those that fit the criteria.

Flood disaster relief in NSW has been named ‘The ‘Back Home Grant’ by the state government and will be available to homes that cannot claim damages to their properties through their insurance companies.

Although pictures alone will not be sufficient and classed as evidence, the SES is tasked with making an official assessment of the property before giving the green light for the NSW flood disaster relief payment.

However, the home must be assessed and deemed damaged, destroyed, or uninhabitable by the SES when visiting your property.

Flood impacted residents hailing from Hawkesbury, Ballina, Byron, Clarence Valley, Kyogle, Lismore, Richmond Valley, and Tweed Heads are able to apply for the grant after completing the necessary steps when applications open.

How Can I Use The Payment?

The much-needed flood disaster relief in NSW is giving locals a piece of mind in such unprecedented times, and with $20,000 on offer, it might be the saving grace for many homeowners.

After application and approval, eligible persons are able to receive an initial $15,000 to repair damaged homes. An additional $5,000 can be granted per property for essential household items.

A word of caution – the additional payment is only available to renters and owner/occupiers.

The ‘Back Home Grant’ is essentially provided as a contribution to putting back a damaged home together.

Whether reconnecting utilities, replacing appliances or refurbishing a broken home, the payment is more than just a quick band-aid fix.

Instead, it offers residents a chance to rebuild after such a devastating disaster. The funds can go towards a number of clean-ups and restorations such as:

  • Inspection and safe reconnection of utilities such as gas and water
  • Structural repairs such as roofing, flooring and fittings
  • Replacement of household essentials such as fridges, ovens and washing machines

Can I Apply For The Grant If I Have Received The Disaster Relief Grant?

Suppose you have previously received the ‘Disaster Relief Grant’. In that case, you will not be able to apply for the ‘Back Home Grant’ as you are only permitted one flood disaster relief payment in NSW due to the floods.

What If My Insurance Covers The Damage To My Property? Can I Still Apply For The Back Home Grant?

The owner or renter of the damaged property must first go through their necessary insurance company.

You will not be able to access the grant if your insurance company covers the damage.

Is The Grant Really Tax-Free?

Yes, grants such as flood and drought relief are non-assessable, non-exempt income from the 2020-21 financial year onward.

Can I Apply For More Than One Grant?

Yes, if you happen to own more than one home affected by the floods, you can apply for a grant per house affected.

Though, you will have to apply for each property individually and, therefore, be assessed per property owned.

How To Apply

As the flood disaster relief in NSW is implemented, it is still a few weeks away before hitting the bank accounts of affected flood victims.

As the grants are still some time away, potential applicants can register to be notified when the applications open via the state government’s site here.

You will find the necessary steps to complete on the official government site, enabling access to the grant when it eventually opens.

Tax Disaster Relief Payments

Although most grants, such as the flood disaster relief payments in NSW, are tax-free, others, such as the ‘pandemic leave disaster payment’ and similar grants, are not. Managing your taxes – personal or business – takes its toll and sounds Greek to most.

At Valles Accountants, we offer over thirty-five years of experience and are one of Sydney’s most reputable premium tax accountants. Get a tax accountant in Sydney to help you and your business.

With expertise spanning from financial planning to niche and emerging fields, we will do all the heavy lifting and crunch numbers while you concentrate on rebuilding.

Along with the pandemic and floods, certain things such as taxes are unavoidable and in times such as these, leaving them to the experts is placing your security and future in skilful hands.