On 9 July 2020, New Zealand’s Inland Revenue (IR) has announced a temporary increase to the write-off threshold for individual taxpayers to help ease the financial stress caused by COVID-19.
The threshold has been increased to NZD 200 from NZD 50 for the 2020 income tax year only applies to qualifying individuals-customers who only receive reportable income and an automatically calculated assessment, not customers who are required to file an IR3 tax return.
From the following year, the threshold will return to NZD 50.
