Flexibility for those affected by recent earthquakes

Inland Revenue is providing added flexibility for those affected by the recent earthquakes that may not be able to meet a particular filing or payment date.

All customers in affected areas including Wellington, can ask Inland Revenue to grant relief from penalties and use-of-money interest.

Inland Revenue is encouraging those who have been affected by the recent earthquakes and are struggling to deal with their tax affairs to contact them as soon as possible.

Additional relief is provided for farmers and fishers as the recent earthquakes are likely to materially affect their income for the 2017 income tax year. Approval to use the IRD’s income equalisation scheme discretions has been granted.

Late deposits for the 2016 income tax year up to 30 April 2017 will be allowed for farmers and fishers whose current or future income will be significantly affected by the earthquakes. This is regardless of when the 2016 return is filed or what the due date is for filing the tax return.

Farmers and fishers who are materially affected by the earthquakes will be able to make early withdrawals. In this case, materially affected means that net income has been, or will be, significantly decreased as a result of the earthquakes, and the withdrawal is needed to cover the income gap that results in a following year.

Please contact our office if you have been affected by any recent earthquakes and require assistance.