Inland Revenue Update 5 May 2022

Delays in Response Times
COVID-19 Support Payment Reminder
Small Business Cashflow Scheme (SBCS) loan interest reminder and repayment notifications
Pre-population of property info in 31/03/2022 income tax returns ‐ IR833
2022 End of year process – Individual income tax assessments

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Currently, we are in a high demand period mostly due to COVID-19 and priority is being given to Covid-19 Support Payment applications.
It is taking longer than usual to answer calls and respond to web messages. Please don’t send follow-up/reminder messages as this adds to the backlog that we are currently experiencing.
We appreciate your patience and are doing our best.

COVID-19 Support Payment applications close today (5 May 2022).
Any draft COVID-19 Support Payment applications that have not been submitted will be deleted after this date.

For customers who took out the Small Business Cashflow Scheme (SBCS) loan when it first became available in May 2020, their 2-year interest-free period and subsequent repayment period is fast approaching.
Customers will receive an SMS or myIR web message reminder 7 days before their 2-year loan anniversary date. These start from 5 May 2022. Interest reminder letters and payment plans will be sent to tax agents/intermediaries if the mail redirect is on. Otherwise, these will be sent directly to you. These communications will publish to myIR or be sent by paper where there is no web logon.
Payment plans will be sent on their 2-year loan date via myIR, from 12 May 2022.
Customers can change their payment dates or amounts by contacting us in myIR prior to their first scheduled repayment to discuss options. Tax agents/intermediaries can do this on their clients’ behalf if they are linked. IR will make contact with the authorised borrower to confirm the arrangement amendments.

We recently made some changes to the IR833 Bright-line residential property sale information return attachment. This form will show in your return if we think you have a bright-line sale and will now pre-populate property information including title number, address, date of purchase and date of sale if you file in myIR or the income tax return gateway service in your software.
You can still manually add this form in myIR/software if you have a property sale that needs to be declared – you will just need to add the relevant property information manually.
You can now see a table of property sales in myIR for the sales we notify you about. You can advise us anytime during the year if the property is excluded from the bright-line rule.
Read more information on the exclusions here.
Alternatively, you can continue to advise us with end of year filing by removing the pre-populated IR833 record from the return.
The table of property sales can be found on your Income tax account panel…>More…>My income section…>Manage bright-line property sales.
We will continue to notify you when we believe you have a sale that meets the bright-line rule, and the bright-line letter will redirect to tax agents where appropriate. On receiving this letter, you or your tax agent can let us know in myIR if the sale doesn’t fall within the bright-line rule, and we will update our records.

From the end of May through to the end of July we will be issuing automatic income tax assessments for most New Zealanders.
All individual clients of tax agents (excluding those with no reportable income and IR3 filers) will receive an ‘Income tax – more information request’ letter.
If your income tax mail is being redirected to your tax agent, they will receive this. Otherwise, it will go directly to you.
For more information on the end of year process click here.
To find out more about tax agents click here.

For questions and more information contact IRD directly.