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IRD Relaxes Rules For Drought Stricken Farmers

IRD Relaxes Rules For Drought Stricken Farmers

Inland Revenue has put in place special measures to help ease the pressure on drought-affected farmers.

These measures include allowing farmers to send a late estimate, or re-estimate, of provisional tax, if their circumstances have changed due to the drought. Early provisional tax refunds can also be arranged if tax has been overpaid.

"We appreciate the extreme hardships created in times such as this,'' said Group Manager Assistance David Udy. "We aim to provide as much support and assistance as possible."

Inland Revenue has also relaxed the rules of the income equalisation scheme, allowing late deposits and early refunds.

Other help available could include remission of late payment and non-filing penalties, and extensions of time for filing returns. Working for Families Tax Credits, which are linked to income levels, could also be adjusted where necessary.

Affected farmers are being encouraged to contact a tax professional or Inland Revenue to clarify what this means for them.

"We understand that tax won't be the first thing people think of when they are dealing with serious hardship, but we want them to know that they can contact us with any queries or worries they may have," said Mr Udy.


Ends

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