Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Dunne: Govt considers Christchurch quake tax issues

Dunne: Govt considers Christchurch quake tax issues

Although Inland Revenue had already put in place a number of urgent measures in response to last month's Christchurch earthquake, the Government is looking at further measures in response to issues raised by the public, Revenue Minister Peter Dunne said today.

"I am very pleased with Inland Revenue's response to the position people found themselves in after the earthquake.

"The flexibility they have shown from immediately after the quake has helped alleviate undue stress and concern on tax matters at least during this terrible time," Mr Dunne said.

He explained that Inland Revenue's response had to date been focused on the plight of business and individual taxpayers, and on its own people and how it operates in Christchurch with its premises closed.

He said Inland Revenue's policy team has been involved in the earthquake support package developed by the Ministry of Social Development, and in ensuring that Inland Revenue's powers to forgive interest are appropriate.

Mr Dunne said that the department had also been helping to facilitate and encourage donations to charities at work in helping Christchurch's post-quake recovery.

"The Christchurch Earthquake Appeal, launched by the Prime Minister in the days after the quake, has been granted donee and tax exempt status. New Zealand donors to the Appeal can therefore claim a tax credit or deduction for donations, while officials are clarifying the tax treatment of donations from overseas with foreign tax administrations," he said.

Mr Dunne said public feedback on what is needed in the wake of the quake would potentially drive some urgent legislative changes.

"I am working through a list of issues compiled by officials and considering possible legislative responses."

Areas identified for consideration to date include:

* Depreciation issues including laws clawing back depreciation from the insurance proceeds on destroyed buildings.
* A number of statutory dates that oblige taxpayers to take action, especially around 31 March.
* The tax treatment of donated goods.
* The redundancy tax credit that expires on 1 April this year.
* The tax treatment of welfare benefits provided by employers (including ex gratia payments).

Mr Dunne said that he would be working on these issues with his ministerial colleagues and expected to be in a position to announce details of decisions in a couple of weeks.

"The tax system can provide valuable help to the people of Christchurch.

"It is important that we do all we canto provide the greatest assistance, while maintaining the integrity of the tax system," he said.

Ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Labour: Healthy Homes Bill Passes First Reading

Some of New Zealand’s most vulnerable children and families are on their way towards safer living conditions with the passing of the first reading of the Healthy Homes Guarantee Bill in Parliament last night, Leader of the Opposition Andrew Little says. More>>

ALSO:

Werewolf Satire: Home, And A Way

The one thing even more popular than an Auckland house is offering advice on how to afford an Auckland house. So, on the grounds it can’t be worse than some of the stuff that’s out there, here’s my three cents* worth. [*Up 50% since 2013!] More>>

ALSO:

Werewolf: The Defence Pretence

Last year, the world began spending more money on weapons again, for the first time since 2011... New Zealand belongs to a region – Asia and Oceania – where military spending rose sharply in 2015, by 5.4 per cent. More>>

ALSO:

Gordon Campbell: On Not Crying Foul, Argentina

So a couple of guys found to be criminally liable of environmental pollution in Argentina lodge an application with the Overseas Investment Office… in order to buy some prime New Zealand rural land. Seems that their factory back home had carelessly and/or intentionally discharged toxic waste into the Lujan river. Bummer... More>>

ALSO:

Urban & Rural: $303m To Merge And Modernise New Zealand’s Fire Services

Internal Affairs Minister Peter Dunne today announced funding of $303 million over five years to combine urban and rural fire services into one organisation from mid-2017. More>>

ALSO:

High Trust Regime: What Did The PM Tell His Lawyer About Foreign Trusts?

The Government stopped the IRD from reviewing New Zealand foreign trusts shortly after the Prime Minister’s lawyer wrote to the Revenue Minister claiming John Key had promised him the regime would not be changed. More>>

ALSO:

Road Crime: Wicked Campers Vans Classified As Objectionable

The definition of publication includes any "thing that has printed or impressed upon it, or otherwise shown upon it, 1 or more (or a combination of 1 or more) images, representations, signs, statements, or words", The Classification Office has previously classified such 'things' as billboards, t-shirts, and even a drink can. This is the first time the Classification Office has classified a vehicle. More>>

ALSO:

'When New' Repairs: Landmark EQC Settlement

The Earthquake Commission has cut a deal with 98 Canterbury homeowners that affirms the government entity's responsibility to repair earthquake-damaged property to a 'when new' state, as well as covering repairs for undamaged parts of a property and clarifying its position on cash settlement calculations. More>>

ALSO:

Gordon Campbell: On Kiwirail’s Latest Stint In The Dogbox

The denigration of Kiwirail continues. The latest review (based on a 2014 assessment) of the options facing the company have enabled Kiwirail to be hung out to dry once again as a liability and burden on the taxpayer. More>>

ALSO:

Royal Society Report: Good Opportunities To Act Now On Climate Change

There are many actions New Zealand can and should take now to reduce the threat of climate change and transition to a low-carbon economy, a report released today by the Royal Society of New Zealand finds... More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news