Drought Afflicted Farmers Get Tax Relief
February 16, 2015 New Zealand Taxation
South Island farmers are being allowed to pay taxes late, as a means of helping them cope with drought conditions.
Late last week the Inland Revenue Department issued a new statement that tax relief will be provided to farmers in selected drought-stricken regions in the South Island.
The tax relief will come as the Inland Revenue Department has opted to use its powers of income equalization discretion, following the an announcement by the Primary Industries Minister Nathan Guy that frames in the eastern South Island were facing a medium-scale adverse event.
Effected farmers will now be given extra leniency in filing their tax payments late, and will be eligible to apply to receive any tax refunds early.
The leniency is intended to allow farmers to shift their tax burdens to a time when conditions improve and they are not as financially constrained.
Photo By: CraneStation