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Relief for taxpayers affected by the floods in the lower North Island and West Coast

We have the ability to waive the late filing and late payment penalties, and interest to help taxpayers who cannot file and pay on time as a consequence of the recent flooding in the lower North Island and the West Coast.

We have activated our income equalisation discretion for farmers. Under this discretion farmers materially affected by the flooding can make early withdrawals from the income equalisation scheme in their 2015-16 tax year.

Because of how early it is in the 2014-2015 tax return filing season, and noting that most farmers have late balance dates, very few, if any, will have filed their 2014–15 tax returns. As we have not applied a general discretion for this, farmers will have to apply individually for the discretion if they want to make late deposits from the 2014–15 year.

Once you've dealt with your immediate situation and you find you need help with your tax affairs, contact your accountant, or call us on 0800 473 566 sooner rather than later so we can help.

 

Read more about extreme weather assistance for individuals and families:

http://www.ird.govt.nz/yoursituation-ind/extreme-weather/

 

Read more about extreme weather assistance for businesses:

http://www.ird.govt.nz/business-income-tax/extreme-weather-relief/

 

Find out if you qualify for an early withdrawal from an income equalisation deposit:

http://www.ird.govt.nz/business-income-tax/income-equalisation/special-provisions/assistance-drought-farmers.html