When it rains, it pours
It’s been a relatively quiet week in the world of tax, perhaps due to the weather?
Well as you’ll be aware, the West Coast, Tasman and Marlborough districts certainly got more than their fair share of the rain. As a result, the Minister of Agriculture and Rural Communities, the Hon Damien O’Connor, has declared the flooding in the West Coast, Tasman, and Marlborough regions to be a medium-scale adverse event.
The declaration is to assist farmers and growers in the area, as it permits IR to exercise its discretion to allow early withdrawals from the income equalisation scheme – usually income equalisation deposits are not available for refund until 12 months after the deposit is made.
IR have advised that those persons who have been affected by the rain and flooding, and as a consequence may have missed a payment or their filing dates, or are struggling to deal with their tax affairs, should make contact by calling the emergency helpline 0800 473 566.
Sick leave increases
While not tax related, just something in the ‘you should know’ basket. Employee entitlements to sick leave have now increased from five to ten days per year. For new employees, they will get the ten-day allotment on their six month anniversary, with everyone else obtaining their extra five days when their next anniversary comes around.
