Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search


Environment-friendly tax changes good for business

16 June 2005

Environment-friendly tax changes good for business

Changes to tax legislation, including tax deductions for businesses cleaning up contaminated sites, were welcomed today by Environment Minister Marian Hobbs.

"The new tax law, passed by Parliament last night, will make it easier for businesses to do their bit towards a clean, healthy and safe environment. Environmental costs, like any other business cost, should be taken into account for tax purposes," Marian Hobbs said.

The changes update, clarify and expand tax deductions for business environmental expenditure.

"This is excellent news for businesses putting practices in place to reduce their impact on the environment," Marian Hobbs said.

A key benefit for business is that work towards restoring contaminated sites is now immediately tax deductible. Taxpayers with restoration liabilities can also opt to take part in a site restoration fund, setting aside money for future site restoration.

The tax deductions cover environmental expenditure such as preventing, remedying or mitigating the discharge of contaminants, monitoring the effects of pollution and testing options to deal with environmental issues. Examples of environmental improvements might include earthworks or ponds to reduce the effect of contaminants, or planting trees to reduce the impact of contaminants on a stream.

"The tax changes are another step to ensure businesses are assisted towards sustainable practice. As part of its work with industry the Ministry for the Environment will also promote these tax benefits," Marian Hobbs said.

More information is available online at or in an upcoming Inland Revenue Tax Information Bulletin.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Peters/Ardern Triumph

There are a lot of good reasons to feel joyful about this outcome. It is what so many young voters – the best hope for the country’s future – wanted.

Far more important than the implications for the Economy Gods ( is the dollar up or down? ) last night’s outcome will also mean many, many vulnerable New Zealanders will have a better life over the next three years at least.

Yet the desire for change was in the majority, across the country..>>>More


Labour on its agreement |Peters: Post-Election Announcement Speech | Greenpeace “cautiously hopeful” about new Government | ACT - Madman on the loose | E tū ecstatic | Chamber welcomes the outcome | Greens on their joining Govt | EDS welcomes new govt | Immigrant groups worry | Feds ready to engage new coalition government | Labour Ministers of the Crown announced


Climate: Increasing Greenhouse Emissions Hit NZ

New Zealand is seeing impacts of excess greenhouse gas emissions in our climate and oceans, according to the latest national report from the Ministry for the Environment and Stats NZ about the state of the atmosphere and climate…More>>


Wellington.Scoop: Arrests At Blockade Of "Weapons Expo"

“We encourage people in Wellington to get down to the Westpac Stadium now for a day of awesome peace action. There will be plenty of food, music and activities to keep us sustained through the day.” More>>


Rorschach Restructuring: PSA Taking Inland Revenue To Court Over Psychometrics

The Public Service Association will be seeing Inland Revenue in Employment Court over its intention to psychometrically test employees reapplying for their roles at the department as part of its controversial Business Transformation restructuring plan. More>>


Nuclear Disarmament: Nobel Peace Prize 2017 Awarded To ICAN

Congratulations from iCAN Aotearoa New Zealand to international iCAN, the other iCAN national campaigns and partner organisations, and the countless organisations and individuals who have worked so hard for a nuclear weapons-free world since 1945. More>>


Expenses: Waikato DHB CEO Resigns

An independent inquiry has identified that Dr Murray had spent more than the agreed $25K allocated for relocation costs, and other unauthorized expenses involving potential financial breaches of the chief executive’s obligations. More>>


Wellington.Scoop: Sad About The Trolley Buses?

The Regional Council’s MetLink is today spending money to tell us that it really loves Wellington’s trolley buses, even though they’re all being taken off our roads by the end of this month. More>>


Post-Election: Preliminary Coalition Talks Begin

New Zealand First will hold post-election preliminary discussions in Wellington with the National Party tomorrow morning and the Labour Party tomorrow afternoon. More>>




Featured InfoPages

Opening the Election