Decisions on Christchurch earthquake tax relief announced

For details, please, see the media statement.

The measures include:

  • Providing an exemption so businesses do not have to pay tax or gift duty on trading stock they have donated within four months of either the September 4 or February 22 earthquakes.
  • Making certain welfare contributions provided by employers tax free, within eight weeks of either earthquake.
  • Extending the redundancy tax credit, which had been due to end on 31 March, to 30 September this year.
  • Granting the Commissioner of Inland Revenue the discretion to extend statutory tax dates on a case or class-of-cases basis.
  • Exempting certain payments made to families who receive Working for Families tax credits as a result of the earthquake from counting as income.

Revenue Minister Peter Dunne said, “The Government’s objective is to get earthquake-stricken residents and businesses back on their feet and today’s decision will help and reflects a need for common sense, flexibility and pragmatism,”

March 28th, 2011