Help Extended to Business Effected by Earthquake

October 16, 2010 New Zealand Taxation

tax_2960Businesses across the Canterbury region are being offered extended help with their tax requirements in October, in case they are still facing difficulties after last month’s earthquake.

The aftermath of Christchurch’s earthquake has been far reaching and devastating for many. Seismic aftershocks and the effects on businesses have been heavily detrimental for countless people across the Canterbury region. The Inland revenue Department (IRD) has said that it appreciates the difficulty this places on many and is willing to offer help.

The IRD issued a statement on October 14th saying that there are a number of provisions available to businesses to remit late payments and late filing penalties and interest. The IRD will also take a “realistic and sympathetic” approach to assessing tax payers’ obligations, if they were affected by the earthquake. Damage to premises, data loss, and downsized revenue flows have placed many businesses under increased pressure, with some not being able to meet their monthly reporting requirements. The IRD expects that some businesses will still be facing similar circumstances this month, and advises any business owners to contact the IRD if they feel that they are under challenging circumstances.

The IRD has instated a special telephone hotline (0800 473 566) for Canterbury taxpayers to ring, for prompt service regarding their tax obligations.

Photo by mondays child