New Zealand

Details

  • Service: Tax
  • Type: Business and industry issue
  • Date: 17/03/2011

Tax

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Taxmail - Christchurch earthquake 

16 March 2011

 

The Minister of Revenue today announced that Inland Revenue is considering a

number of tax issues arising from the Christchurch earthquake in February.

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Tax issues

 

  • 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).

 

The Minister indicated that Government should be in a position to announce details of decisions on these matters in the next few weeks.

 

Contacts

Olive Wallis

Partner

Christchurch

021 535 791

omwallis@kpmg.co.nz

Mark Lodder

Director

Christchurch

021 242 7073

marklodder@kpmg.co.nz

Paul Dunne

Partner – Tax

Auckland

+64 9 367 5991

pfdunne@kpmg.co.nz

 

John Cantin

Partner – Tax

Wellington

+64 4 816 4518 jfcantin@kpmg.co.nz

 

Taxmail - Comment on topical tax issues from KPMG NZ Tax.