Labour Party Accelerated Depreciation Policy
Shouldn’t Be Just for Pet Industries
The Taxpayers’ Union is
welcoming Labour’s announcement to beef up rates of
depreciation in the manufacturing sector, but is questioning
why David Cunliffe is picking winners rather than applying
the policy across all sectors. Jordan Williams, the
Union’s Executive Director says:
“If we want
to transform New Zealand into a high wage economy with more
capital investment, increasing depreciation rates for tax
purposes makes sense. Labour's policy is likely to encourage
more capital investment and reduce the tax burden of the
business affected.”
“We like the policy, but once
again politicians are trying to ‘pick winners’ and do
favours to particular industries rather than setting an
equal playing field, reducing the tax burden for all and
standing back. The policy should be applied across the
board.”
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