Fires, Floods & Storms Webinar

Dealing with the tax implications arising from natural disasters

The expenses that can and cannot be claimed as a deduction
Step-by-step guide to dealing with insurance proceeds
Concessions in the tax system for impacted clients

A Live Instructor Led Webinar

Bugger. Now what?

Dealing with the tax system might be the last thing on the mind of clients who have experienced disruption, damage or destruction to their assets as a result of a natural disaster. However, clients in this situation will often be faced with some complex tax issues and practitioners need to be aware of the key issues that need to be considered.

The Fires, Floods & Storms Webinar explores the common tax issues that need to be navigated when clients are recovering from a natural disaster. The tax system contains a number of concessions that might provide clients who have been affected by natural disaster with some tax relief. It is vital for practitioners to know what is available so that clients receive proactive tax advice.

You can't prevent the harm of natural disasters but you can make it easy for clients to access the concessions and benefits that will make it easier for them to keep going.

Total 1.25 CPD Hours


Recorded: 15 February 2024

FAAA accredited for 1.25 CPD hours (31826)

  • 1.25 Tax (Financial) Advice

Terms & conditions: All registrations to Knowledge Shop events are subject to our terms and conditions which include a cancellation policy. No refunds are provided for cancellations received 1 day prior to the webinar. No credits are available less than 2 hours prior to the event under any circumstances.

*Office Registrations. Maximum 15 participants per firm (must have same email domain). The PD points for all attendees will be recognised and links will be provided to all attendees.

What we cover

We take a practical look at the key issues that need to be addressed when clients are impacted by a natural disaster. This session covers:


What's included?

  • 1.25 (.est) CPD hour webinar
  • 3 month access to Q&A embedded webinar recording
  • Reference notes
  • Determining whether expenses incurred on repairing a property can be deducted upfront
  • Identifying whether insurance proceeds are taxed on revenue or capital account
  • When rollover relief might be available to clients whose assets have been lost or destroyed
  • Modifications to the main residence exemption that can have a significant impact on the tax outcome
  • The Commissioner’s concessional approach to the non-commercial loss rules
  • Exceptions to the strict new rules dealing with the tax treatment of holding costs

Our presenter

Tax Director, Knowledge Shop

Michael Carruthers

Michael CarruthersMichael is an adviser, author, in demand presenter, mentor to Knowledge Shop’s technical team, and is well known for his capacity to translate highly technical information into tangible and useable advice for the profession. He has a knack for seeing through the complexity and helping advisers work through highly technical issues with certainty and accuracy.

Michael works with advisers every day to help them negotiate and implement the constant tide of change impacting the industry. He is a member of the advisory panel for the Board of Taxation and is a member of the reference group for the Board’s review of small business concessions.

He was also an expert panel member for the Board’s review of tax impediments facing small business.