Nelson Flood Victims Offered Tax Help

January 12, 2012 New Zealand Taxation

Flooding in NelsonAnyone struck by the flooding in Nelson should contact the IRD to see if they are eligible for a review of their tax obligations.

In the wake of the widespread flooding in the Nelson region of the South Island, the Inland Revenue Department is advising taxpayers that they may be eligible for special consideration on their tax obligations if they were heavily affected by the disaster.

According to the IRD, business owners who were struck by the flooding are eligible to re-estimate their provisional tax obligations, and early refunds may be arranged in case provisional taxes are found to have been overpaid. The Department is also willing to waive late filing penalties for business that are not able to submit their GST and PAYE returns on time.

Individuals who have an outstanding tax debt to the IRD may apply for payment installment plan, which the IRD will grant if the individual has undergone hardships during the flooding and is not able to meet their obligations.

Parents whose incomes were affected by the flooding may be eligible to reassess their Working for Families Tax Credit eligibility.

The IRD is advising anyone that who believes they may have trouble meeting their tax obligations following the flooding should contact the IRD to discuss their situation.

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