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Tax Administration Act 1994

Miscellaneous

226H: Notification requirements relating to tax relief for emergencies: affected property

You could also call this:

"Tell the Commissioner about damaged property in an emergency to delay paying tax"

Illustration for Tax Administration Act 1994

You need to tell the Commissioner if you want to delay paying tax on property damaged in an emergency. You must give details about the damaged property and any replacement property you buy. You can find more information about this in the Income Tax Act 2007, specifically in section FP 7 and section DB 23. You also need to tell the Commissioner about damaged depreciable property, like equipment or vehicles. You must describe the damaged items and any replacement items you buy. You can find more information about this in the Income Tax Act 2007, specifically in section FP 11. You must tell the Commissioner about damaged improvements to land, like buildings or fences. You must describe the damaged improvements and any replacement property you buy. You can find more information about this in the Income Tax Act 2007, specifically in section FP 12(5) and sections DO 4, DO 5, or DO 11. You must tell the Commissioner by a certain date, which is usually by 30 April the year after the emergency. But if you need more time, the Commissioner might let you file the notice later if there are exceptional circumstances.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS1430722.

Topics:
Money and consumer rights > TaxesHousing and property > Home safety and repairsHousing and property > Land use
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"Rules about changes to global tax rules and how they apply"

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226I: Notification requirements relating to tax relief for emergencies: group assets, or

"Telling the tax office about emergency tax relief for group assets"

Part 13Miscellaneous

226HNotification requirements relating to tax relief for emergencies: affected property

  1. A person who chooses to suspend the recognition of suspended recovery income for affected revenue property for a current year under section FP 5 of the Income Tax Act 2007 must notify the Commissioner. The notice must—

  2. describe the affected revenue property; and
    1. give details of replacement property acquired in the current year to replace, in full or in part, the affected revenue property; and
      1. provide the replacement cost of that replacement property and the amount of the replacement cost adjustment under section FP 7 of that Act for the purposes of section DB 23 of that Act; and
        1. provide the amount, for the affected revenue property, of the suspended recovery income at the end of the current year.

          1. A person who chooses to suspend the recognition of suspended recovery income for affected depreciable property for a current year under section FP 8 of the Income Tax Act 2007 must notify the Commissioner. The notice must—

          2. describe the items of affected depreciable property; and
            1. indicate in which affected class each item of affected depreciable property is included; and
              1. give details of each item of replacement property acquired in the current year and the affected class to which the person is linking the item; and
                1. provide the amount of the replacement cost of each replacement item and the amount of the replacement reduction under section FP 11 of that Act from that replacement cost for the purposes of determining adjusted tax value or depreciation loss; and
                  1. provide the amount, for each affected class, of the suspended recovery income at the end of the current year.

                    1. A person who chooses to suspend the recognition of suspended recovery income for affected improvements to land for a current year under section FP 12 of the Income Tax Act 2007 must notify the Commissioner. The notice must—

                    2. describe the affected improvements to land; and
                      1. give details of replacement property acquired in the current year to replace, in full or in part, the affected improvements to land; and
                        1. give the replacement cost of the replacement property and the value attributed to that cost under section FP 12(5) for the purposes of section DO 4, DO 5, or DO 11 of that Act, as applicable; and
                          1. give the amount, for the affected improvements to land, of the suspended recovery income at the end of the current year.

                            1. A person providing notice under this section must notify the Commissioner—

                            2. by the later of—
                              1. 30 April in the year immediately after the income year in which the emergency event occurs; and
                                1. the date on which their return of income is filed for the earliest income year in which the amount of the compensation for the affected property can be reasonably estimated (the estimate year); and
                                2. when the current year is after the estimate year,—
                                  1. for each income year between the estimate year and the current year, by the date on which the return of income is filed for that income year; and
                                    1. for the current year, by the date on which the return of income is filed for the current year.

                                    2. The Commissioner may allow the person to file a notice under this section at a later time if the Commissioner considers there are exceptional circumstances.

                                    Notes
                                    • Section 226H: inserted, on , by section 199 of the Taxation (Annual Rates for 2024–25, Emergency Response, and Remedial Measures) Act 2025 (2025 No 9).