On 25 January 2023 Cabinet declared Cyclone Hale an emergency event for the purposes of Use of Money Interest Remission (UOMI). The declaration identified the Northland, Gisborne, Wairarapa, Coromandel and Wairoa areas as the affected areas.
Earlier on 13 and 16 January 2023, Minister for Rural Communities Damien O’Connor declared a medium-scale adverse event for the Gisborne and Wairarapa regions.
There is also localised flooding and damage across other regions and districts which is affecting customers’ ability to comply with their tax obligations, including filing and paying on time.
To help affected farmers and growers we are allowing some late deposits for the 2022 year and early withdrawals from the income equalisation scheme.
Cyclone Hale will affect farmers' and growers' income for the 2023 income year. Late deposits for the 2022 year can be made until 31 May 2023.
We have a range of support in place for customers affected by Cyclone Hale.
If you have been affected by Cyclone Hale, missed payment or filing dates or are struggling to deal with your tax affairs, please contact us sooner rather than later so we can help. The best way to do this is through your tax agent or call us on our emergency helpline 0800 473 566.
Early refunds of deposits will be allowed. Normally income equalisation deposits are not available for refund until 12 months after the deposit is made. However, we do have discretion to allow early refunds, particularly in the case of a medium or large-scale adverse event or when the person is suffering serious hardship.
We also have the ability to determine a 'class of case' that qualifies for an early refund.
All applications for an early refund must be in writing and will take approximately 5 working days to process. It should be remembered that the refund will be income in the year that the application is made unless it is elected to treat the refund as income in the prior income year where the application for refund is made in the specified period.
For more information on income equalisation and deposits please refer to our Standard Practice Statement 19/03: Income equalisation deposits and refunds.
New Zealand legislation
Income Tax Act 2007:
- Section EH 4(4)
- Section EH 15(3)