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10 Aug 12 The Tax Institute in the Media

The Tax Institute was quoted on Wednesday 8 August in Smart Company: “Tax office warns about $40m in tax rorts following Queensland floods” regarding a crackdown on small business’ not declaring income after receiving grants or payments relating to floods or other natural disasters. In the article we say the law in this area is not easy and affected taxpayers should seek professional advice, especially as they may be encountering a once in a lifetime situation.