The IRD have recently sent out their March Tax update.  Listed below is what you’ll find in this month’s newsletter.

  • TAX RELIEF and income assistance is available to people affected by the downturn in business due to the COVID-19 Coronavirus. The IRD have a range of ways to help depending on your circumstances. 
  • EASTER – for a few days in April over the Easter break, the IRD will be making system changes to make tax more straightforward. At this time, myIR will be unavailable and their offices and phone lines will be closed.  The IRD will update us with exact dates and times in the next newsletter and on their website.    
  • WEBINARS – The final webinar for employers and not-for-profit organisations will take place on 18 March 2020 from 2.30pm. It’s the last session in this series and focuses on helping you prepare for upcoming changes.  The session will cover what’s changing for employers, myIR, payments income equalization, student loans, KiwiSaver.
  • SEMINARS – Are you ready for the changes coming in release 4 of the IRD business transformation journey? The IRD will be holding employer seminars across the country from 23 March to 3rd  Spaces are limited, so register soon.
  • TAX TECHNICAL WEBSITE – As part of the IRD work to build a new and improved Tax Technical website, they’re making a beta, or test version available ahead of the first published release. It is planned to make the beta site available in late March, accessible via the existing Tax Technical section. 
  • RDTI – Research and Development Tax Incentive supports Government’s target to increase New Zealand’s R&D expenditure to 2% of GDP by 2027. In February a new RDTI website was introduced to help businesses understand the benefits of undertaking R&D and to encourage more businesses to invest in it. 

Please take time to read the full newsletter here.

If you have any questions regarding information in this article, please call us on 09 636 3332.