2006 media releases
One month left to seek penalty cancellations
30 August 2006
If you have been charged a shortfall penalty on your tax for taking an "Unacceptable Tax Position" (UTP), you may now be eligible to have the penalty cancelled if it resulted from a clear mistake or simple oversight, according to Inland Revenue.
A recent change to the law means that, in some circumstances, taxpayers can apply to Inland Revenue to have shortfall penalties imposed between April 2003 and March 2006 cancelled. But they have only until 30 September 2006 to do this.
"Given the wide interest in this issue leading up to the change in legislation in March this year, we're surprised at the low number of requests received to date," says Richard Philp, Assurance Manager (Audit). "Anyone who thinks they have had a UTP shortfall penalty imposed unfairly because of a simple mistake or oversight should write now to request a cancellation.
"People just need to outline the facts of their case. Full details are on our website, or people can call our business overdue returns freephone for information."
For details on the sort of information to include in your request see the Inland Revenue website and search under keyword "UTP", or call 0800 377 771.
For further information contact:
Sharon Cuzens
04 890 1930
Other media releases this year
- It's IR 3 time - for many of us
- Owner of chain of rest homes get 21-month prison term for million dollar tax evasion
- Family assistance payments to be made early
- Inland Revenue welcomes tough sentence on tax fraudster
- False identity charges lead to jail term for Christchurch woman
- PAYE evasion leads to jail term
- Family assistance payments to be made early
- Inland Revenue welcomes Govt3 award wins
- PAYE Subsidy available for employers
- Christchurch painter jailed on tax charges
- Inland Revenue can offer help to weather-affected businesses
- Prison for Tauranga contractor on tax fraud charges
- Inland Revenue confirms stand on depreciation
- Family Assistance payments to be made early
- Tax discount for new businesses
- Tauranga contractor jailed for tax offences
- Inland Revenue revises rules on shortfall penalty application
- Inland Revenue Flood Support
- Family Assistance to be paid early
- Inland Revenue website wins People's Choice award
- Tax due date coming up on 7 February
- Family assistance payments to be made early
Corporate Affairs
Inland Revenue
To make a media query:
Phone 04 890 1698 or email mediaqueries@ird.govt.nz
Please note, the email address is only for enquiries from the news media. It is monitored during normal business hours 8am - 5pm Monday to Friday.
P O Box 2198
Wellington 6140
New Zealand
Date published: 30 Aug 2006
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