Drought declared on NZ's South Island east coast, IRD invokes tax relief

Wed, 11 Feb 2015

By Jonathan Underhill Feb. 12 (BusinessDesk) - The government has declared drought conditions on the east coast of the South Island, triggering a range of support measures, and said the tax department will invoke income equalisation rules that give farmers more flexibility in the timing of tax payments. Primary Industries Minister Nathan Guy declared a medium-scale adverse event for parts of Otago, Canterbury and the Marlborough District during a visit to the Opuha Dam in South Canterbury, a water storage dam often held up as a model for...

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