IRD Offers Drought Relief Measures

March 4, 2013 New Zealand Taxation

DroughtSome farmers in New Zealand will soon breath a sigh of relief, as the government eases their tax filing obligations.

Late last week the Minister of revenue Peter Dunne announced that the Inland Revenue Department will grant some concession to tax filing obligations to farmers operating in the drought stricken Northland region.

The Minister announced that the provisional measures for farmers will allow them to make late deposits for the 2012 income year for the income equalization scheme, and will also allow for early refunds to farmers.

Explaining the reasons behind the decision, the Minister said that due to the droughts, farmers are likely to be facing some financial difficulties now and in the near future.

Due to the similarly dry conditions faced by some other farming regions in New Zealand, the concessions to farmer may also be expanded to other locations across the country in the near future if required.

Photo by Kecko