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  • Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    What do you have to do if you are exempt?

    When you lodge your 2012 tax return, you need to confirm that you are exempt from paying the flood levy by completing the flood levy question.

    We will not include the flood levy when we work out your tax payable.

    This means that you may receive a larger tax refund, or have a lower amount payable, than would otherwise have been the case.

    Example 3: Exempt from the flood levy

    Mark was affected by the Brisbane floods and received an Australian Government Disaster Recovery Payment from Centrelink. He knows he will be exempt from paying the levy in the 2011-12 financial year.

    When Mark completes his 2012 tax return, he declares that he was exempt from the flood levy by completing the flood levy question. We do not include the flood levy when working out Mark's tax payable.

    End of example

    How much will you pay

    You will pay the flood levy unless you are:

    • exempt from paying the flood levy - to find out if you are exempt, complete the steps in Are you exempt?
    • a low income earner - if you have a taxable income of $50,000 or less in the 2011-12 financial year, you will not be charged the flood levy.

    Flood levy rates

    Taxable income

    Flood levy on this income

    $0 to $50,000

    Nil

    $50,001 to $100,000

    Half a cent for each $1 more than $50,000

    More than $100,000

    $250 plus 1c for each $1 more than $100,000

    Work it out

    The flood levy only applies to taxable income earned from 1 July 2011 to 30 June 2012.

    End of work it out
      Last modified: 21 Sep 2016QC 22325