COVID-19 Tax Relief

COVID-19 Tax Relief

TAX RELEIF AT INLAND REVENUE FOR COVID-19

Inland Revenue has published its efforts on how it is dealing with Tax Payers that are being effected by COVID-19.

Here are a few ways that they are helping:

Provisional tax estimates

You may be able to make an estimate or re-estimate of provisional tax, if your circumstances have changed due to the COVID-19. We can arrange early refunds if provisional tax has been overpaid.

Unable to pay your tax

If you’re having difficulty paying outstanding tax, we can help you set up an instalment arrangement. You can apply in myIR.

You can also apply for a write-off due to serious hardship when you know you won’t be able to pay the full amount.

Late filing and late payment

Extensions to filing dates for some income tax returns may be available. Extensions can’t be granted for GST and PAYE returns, but any penalties for late filing may be remitted. Under limited circumstances penalties for late payments incurred due to the effects of the COVID-19 may also be remitted.

A full list can be found here – https://www.ird.govt.nz/updates/news-folder/tax-relief-coronavirus

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