Cabinet will consider a recommendation to allow Inland Revenue to waive interest on late payments of taxation for businesses affected by the Havelock North gastroenteritis outbreak, announced Revenue Minister Michael Woodhouse and Small Business Minister Craig Foss.
“Inland Revenue already has the ability to waive penalties for late payments, but due to the impact of the outbreak on businesses, Cabinet will consider enabling interest to be waived for late PAYE and provisional tax payments, due later this month,” Mr Woodhouse says.
“In particular, this recognises that affected people should be looking after themselves and their families first and foremost.
“It is also about showing flexibility and understanding during a difficult time and is comparable to the government’s response to the Manawatu-Whanganui floods last year when Inland Revenue was given the same power.”
“This recommendation acknowledges the physical impact the outbreak is having on local businesses and goes some way to providing support and relief,” Mr Foss says.
“Earlier this week I called on landlords, banks and unaffected businesses — particularly large businesses — to be generous and accommodating toward other smaller businesses.
“It’s been great to see so many local companies rally around their community and provide goods or services free-of-charge.”
Further details will be released following Cabinet’s consideration next week.