COVID-19

Image: Taxation (Kiwsaver, Student Loans, and Remedial Matters) Bill

Latest updates + insights on COVID-19 UOMI concession

Latest updates + insights on COVID-19 UOMI concession 1344 706 Lee Stace

Taxpayers physically unable to pay their tax on time due to COVID-19 can also apply to have IRD interest (UOMI) remitted. The COVID-19 Response (Taxation and Social Assistance Urgent Measures) Bill – which contains several other tax measures – was passed through all its stages under urgency in Parliament yesterday. The commentary for the Bill…

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COVID-19 update: IRD to waive UOMI on late tax

COVID-19 update: IRD to waive UOMI on late tax 1200 630 Lee Stace

IRD will have the power to wipe interest (UOMI) if those significantly impacted by COVID-19 cannot pay their tax on time. The provisional tax threshold will also increase from $2500 to $5000. The changes were announced by Minster of Finance Grant Robertson as part of the Government’s fiscal and economic response package to COVID-19. A…

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