COVID-19: Late filing and time bar

Inland Revenue has advised that although it remains important to furnish the 2019 income tax returns as soon as possible, any late filing penalties will be waived if the return is filed late due to the impact of COVID-19.

Late tax return filings will also have the effect of extending the time bar in s 108 to 31 March 2025 (instead of 31 March 2024). In these circumstances, as at 31 March 2024 the Commissioner will close any review or other compliance activity for any 2018/2019 income tax return which is:

• due on or before 31 March 2020 and is furnished after 31 March but before 31 May 2020 due to the impact of COVID-19
• not subject to any existing exclusions from the standard four-year time bar, or
• not subject to a dispute commenced by a notice of proposed adjustment issued before 1 January 2023 and involving alleged tax avoidance, or having tax in dispute of greater than $200 million.

The Commissioner may need to clarify the circumstances of any delay in filing. This is limited to the effects of the COVID-19 virus.

Source document: Inland Revenue

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