Chartered Accountants Australia and New Zealand (CA ANZ) is welcoming an announcement that Inland Revenue (IR) will give businesses until 31 May 2023 before following up on unfiled 2022 tax returns, rather than the traditional 31 March date.

The announcement follows engagement between Inland Revenue and a wide group of organisations including CA ANZ, which represents over 31,000 members in New Zealand, many who are working in and alongside businesses devastated by widespread flooding and Cyclone Gabrielle.

“This is good news for businesses affected by devastating floods, who will get a bit more time to file their 2022 tax returns,” said CA ANZ NZ Tax Leader John Cuthbertson FCA.

“By providing leniency nationwide, Inland Revenue’s approach also recognises the impact on businesses around the country, as many have supply chain elements in the affected regions.”

“This is the sort of agile response we were hoping for. Although the 31 March due date for filing remains as it is hardwired in legislation, today’s announcement provides businesses with a little more time to get things sorted.”

“CA ANZ’s advice is that businesses and tax agents should still try and get their returns in as soon as possible, and to keep in touch with IR, who can help more widely with penalties and interest relief as appropriate.”