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Depreciation Policy Shouldn’t Be Just for Pet Industries

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.”

ENDS

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