Tax exemptions for victims of North Island flooding.
A Supplementary Order Paper was added to the latest tax Bill on Tuesday 14 March 2023. These provisions have been made to provide tax relief for certain payments and benefits made by employers to employees affected by the North Island flooding events of 2023. This tax relief can be accessed by employers for assistance provided to employees in the first eight weeks after the flooding.
This means with the current provisions certain amounts and benefits made by the employer as an extra-gratia welfare contribution to their flood-affected employees, will not be subjected to income tax or FBT. There is also tax relief for donations of goods.
For more information of what is covered by this provision please click here
