Nelson and Tasman residents are potentially sitting on a tax gold mine, with millions of dollars owed to them.
An Inland Revenue spokesman told the Nelson Mail $14.1 million of tax refunds was due to companies and individuals last month.
The biggest refunds owed were to individuals, with $7.8m owed to 13,166 people registered in Nelson and Tasman, although it is unknown if they are living in the area or elsewhere.
Another $3.7m was owed to 865 companies in income tax credits, while the remaining money was owed for GST, PAYE and other tax types.
It's likely that figure increased further after the July 7 deadline for individuals to file an IR3 income return. Last year, the amount of tax refunds owed more than doubled following the July 7 deadline – increasing from $6.5 million.
"IRD is unable to determine the amount of money that may be owed until an assessment is raised and the customer confirms their income," the spokesman said.
Nationally, as at March this year, the IRD held $311m of tax refunds owed to individuals and $284m to companies.
- © Fairfax NZ News