Investment Boost Tax Incentive Takes Effect Immediately

Investment Boost Tax Incentive Takes Effect Immediately

This change will benefit farmers, tradies, hairdressers, manufacturers, and other businesses by helping them invest in productivity improving assets. It is all designed to help firms become more competitive and, therefore, able to lift workers’ wages.

Budget's investment boost tax incentive one of the bolder tax initiatives in recent years

Te wiki o te tāke – The New Zealand Tax Podcast Budget Special –a welcome investment boost, the Ghost of Bill English appears and low-income families still face high tax rates

Investment Boost tax incentive takes effect immediately

Investment Boost has passed into law, meaning a major new tax incentive to encourage businesses to invest, grow the economy, and lift wages is now in place, Finance Minister Nicola Willis says. “Investment Boost takes effect immediately. This means businesses that go out today and buy machinery or tools or equipment or vehicles or technology can immediately deduct 20 per cent of that cost from taxable income – meaning a much lower tax bill. “The…