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Tax breaks for flood-affected businesses

NZ Newswire logoNZ Newswire 19/04/2017

Flood-affected businesses in the Bay of Plenty are being given tax breaks to help them get back on their feet.

Revenue Minister Judith Collins says Inland Revenue will cancel late filing and late payment penalties, and businesses will be able to apply for early refunds on tax already paid.

Cabinet minister Anne Tolley, who is in charge of the relief operation, says businesses in the region have enough to deal with without worrying about their tax obligations.

The government on Tuesday announced a $700,000 assistance package for businesses.

It has already paid out about $550,000 to help people with food, bedding and clothing.

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