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Tax assistance measures in place for quake victims


Dunne: tax assistance measures in place for quake victims

Inland Revenue will take into account tax issues facing Canterbury customers affected by Saturday’s huge earthquake, Revenue Minister Peter Dunne said today in announcing steps to assist, including a disaster response phone line and tax credits for earthquake relief cash donations.

He also assured people that all payments they are expecting from Inland Revenue, such as Working for Families Tax Credits, will be made as usual.

“We understand this is a very difficult time for many people in and around Christchurch and that it has caused massive disruption to lives and businesses,” Mr Dunne said.

“We want to make things as easy as possible, and Inland Revenue will take a sympathetic and realistic approach with businesses trying to get back on their feet and reopen their doors.”

He said a special Inland Revenue Disaster Response line has been set up on 0800 473 566 for people and businesses to contact Inland Revenue if they think they might be facing difficulties.

“We appreciate that sorting out tax matters will not be a priority for Canterbury people and businesses yet. They have much more urgent concerns they need to get on with. However, because of the earthquake a number of businesses may not have been physically able to pay their tax and file their returns as they were due.

“People should get their affairs up to date when their circumstances allow.”

He advised that Inland Revenue will provide information on the remission of late payment and late filing penalties and interest.

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Some businesses are likely to find themselves in financial difficulty or may have had their records destroyed. “The message for anyone in this situation is to talk to Inland Revenue and its staff will work with you,” he said.
Mr Dunne also announced that cash donations over $5 by individuals towards earthquake relief will be eligible for a tax credit, and will be tax deductible when made by companies.

“Again, it’s about easing the flow of assistance and encouraging it as best we can,” he said.

Mr Dunne said Inland Revenue’s Christchurch office was also closed with water damage from the earthquake, but it would be back in operation early next week.

He also advised that Inland Revenue is working on the technical tax issues that arise from property damaged or destroyed by the earthquake and the tax consequences of any associated insurance claims.

Further information for customers affected by the earthquake is available on Inland Revenue’s website www.ird.govt.nz.

ENDS

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