Income tax Dates
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JAN 28AIM instalments are due if you file GST monthly and have a March balance date.
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FEB 7End-of-year income tax and Working for Families bills are due, unless your tax agent has an extension of time to file your income tax return.
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FEB 28Provisional tax payments are due if you have a March balance date and use the ratio option.
You can claim environmental expenses in certain situations.
When you can claim expenses
To claim expenses, all of the following conditions must apply:
- Your business is in New Zealand.
- As part of that business, or when you are ending business operations, you incur expenses to avoid, fix, or reduce the damaging effects of contaminated discharge or making noise.
- The expenses do not include reclaiming land, non-environmental dredging, or expenses related to the buying or acquiring of land.
- The expenses do not relate to revenue account property.
- No other provision allows a deduction for the expenses.
Deduction rates
Default deduction rates cover 4 cost categories
| General description of expense | Default deduction rate |
|---|---|
| Testing and feasibiliity expenses | 100% |
| Restoration expenses | 100% |
| Monitoring expenses | 100% |
| Construction or improvement expenses |
The lesser of:
|
If the default deduction rates do not give the correct calculation and taxation of income from business activities, you can apply to us for a category-specific rate.
Destruction or closure
If an environmental improvement is destroyed or a business closes, you can claim the remaining balance of the expense - the original cost minus any deduction you’ve already claimed.
Tax Technical advice
Read more about deducting expenditure related to mitigating environment hazards.
Last updated:
03 May 2024