Budget benefits southern people
A standout of the Budget, that I believe will pump a lot of energy into the Gore area is Investment Boost.
The programme gives tradies, farmers, and other businesses a tax incentive to invest in new tools and equipment to boost productivity and lift wages.
Businesses can now deduct 20% of the cost of new machinery, tools and equipment off their taxable income. This is on top of existing depreciation meaning a much lower tax bill in the year of purchase.
If a farmer wanted to buy a new tractor for $150,000, they would be able to immediately deduct $30,000.
Investments like this pump money directly into our local economy, making everyone better off.
The Budget also includes $164 million over four years to expand urgent and after-hours healthcare, including better access to diagnostics, urgent medicines and 24/7 on-call clinical support.
Over the next two years improved services will be rolled out to rural communities in places like Balclutha, Lumsden and Roxburgh.
I am also pleased to see that the Budget will help up to 66,000 more SuperGold cardholders with their rates payments, with a new income abatement threshold to assist SuperGold cardholders being introduced from July 1.
Another excellent development for the South is the investment for Milford Sound announced last week.
Certainty for cruise ship access and the retention of the Milford Aerodrome is incredibly important for this community.
With many of the sound's visitors moving through our region, this $15.2m investment will bring confidence for Southland and will help ensure a strong future.
Reforms to Fish & Game New Zealand are on the way.
The changes will modernise and strengthen the organisation, as well as improve the management of hunting and fishing resources and advocacy, while maintaining local control.
Legislation will be introduced this year, and the select committee will provide an opportunity to provide feedback on the proposals.
Finally, it was great to see such a packed lineup of events come to Gore for the Bayleys Tussock Country Music Festival.
The festival is a great example of our region leading the way in the country music scene.
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RNZ News
4 hours ago
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Many small businesses plan to buy new asset as result of Investment Boost
New Zealand banknotes, pen and calculator on background with rising trend green line Photo: 123RF Many small businesses plan to invest in new assets as a result of the government's Investment Boost programme . A MYOB survey of more than 500 small and medium sized businesses (SMEs) indicates nearly half (45 percent) plan to make an asset purchase over the next six months, while one-in-five were planning to invest in the next three months. Topping the list of new assets to purchase were passenger vehicles, including cars, vans, and utes (31 percent), followed by new office technology (28 percent), digital devices (22 percent), furniture (18 percent) and tools of their trade (15 percent). Just over one-in-10 planned to invest in smaller scale machinery or equipment. About a third (35 percent) of businesses estimated their investments would improve productivity. The survey found the other half of businesses considered changing their plans around investing in new assets because of the new policy, while about one-in-10 (12 percent) thought the Investment Boost had changed their plans considerably, though 7 percent were unsure. Just 28 percent said their spending plans had not changed, with 5 percent saying their planned spending was ineligible for the government's programme. MYOB chief customer officer Dean Chadwick said the survey findings demonstrated a strong appetite for government support, given the sluggish pace of economic recovery. "The Investment Boost delivers timely support to New Zealand's SMEs as they weigh up current economic challenges with the opportunity to invest in growing their business, and it will go some way to shoring up and accelerating their own performance," he said. "This latest survey also shows that spending by local businesses on eligible new assets will continue into 2026." The median planned asset spend of those surveyed was $37,700. One-in-10 businesses expected to spend between $80,000 to $100,000, while 12 percent expected to spend between $100,000 to $200,000. The agriculture sector has one of the highest median spends ($56,670), along with manufacturing ($53,300), behind the finance and insurance sector ($60,000 median).
Otago Daily Times
2 days ago
- Otago Daily Times
Budget benefits southern people
A standout of the Budget, that I believe will pump a lot of energy into the Gore area is Investment Boost. The programme gives tradies, farmers, and other businesses a tax incentive to invest in new tools and equipment to boost productivity and lift wages. Businesses can now deduct 20% of the cost of new machinery, tools and equipment off their taxable income. This is on top of existing depreciation meaning a much lower tax bill in the year of purchase. If a farmer wanted to buy a new tractor for $150,000, they would be able to immediately deduct $30,000. Investments like this pump money directly into our local economy, making everyone better off. The Budget also includes $164 million over four years to expand urgent and after-hours healthcare, including better access to diagnostics, urgent medicines and 24/7 on-call clinical support. Over the next two years improved services will be rolled out to rural communities in places like Balclutha, Lumsden and Roxburgh. I am also pleased to see that the Budget will help up to 66,000 more SuperGold cardholders with their rates payments, with a new income abatement threshold to assist SuperGold cardholders being introduced from July 1. Another excellent development for the South is the investment for Milford Sound announced last week. Certainty for cruise ship access and the retention of the Milford Aerodrome is incredibly important for this community. With many of the sound's visitors moving through our region, this $15.2m investment will bring confidence for Southland and will help ensure a strong future. Reforms to Fish & Game New Zealand are on the way. The changes will modernise and strengthen the organisation, as well as improve the management of hunting and fishing resources and advocacy, while maintaining local control. Legislation will be introduced this year, and the select committee will provide an opportunity to provide feedback on the proposals. Finally, it was great to see such a packed lineup of events come to Gore for the Bayleys Tussock Country Music Festival. The festival is a great example of our region leading the way in the country music scene.
Scoop
5 days ago
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Jones To Singapore For Major Energy Conference
Press Release – New Zealand Government I look forward to meeting oil and gas explorers and producers on the sidelines of the conference to discuss ways we can open new pathways for investment and opportunities for the oil and gas sector in New Zealand, says Resources Minister Shane Jones. Minister for Resources Resources Minister Shane Jones travels to Singapore tomorrow where he will speak to more than 400 executives about New Zealand's oil and gas investment opportunities at the Asia Pacific Energy Capital Assembly. 'As a fierce champion for New Zealand's oil and gas sector, the Asia Pacific Energy Capital Assembly conference on 9 and 10 June provides an unparalleled opportunity to tell investors from the Asia Pacific region that New Zealand is open for business and ready for investment,' Mr Jones says. 'Investment in our resources means jobs, opportunities and economic growth for regional New Zealand. The Coalition Government is working hard to make New Zealand an attractive proposition for investors, with changes such as the reversal of the oil and gas exploration ban and the passing of the Fast-track Approvals Act. 'Budget 2025 included a tagged contingency of $200 million over four years for business case-approved coinvestment in new gas fields. This investment sends a clear message to the international investment community that New Zealand is serious about oil and gas exploration to supply the gas we need to power our homes and businesses. The industry can also benefit from the Investment Boost policy, also announced in Budget 2025. 'Of particular interest to international investors will be upcoming changes to the Crown Minerals Act which align petroleum decommissioning requirements with international best practice. These requirements were previously seen as a handbrake on investment. 'I look forward to meeting oil and gas explorers and producers on the sidelines of the conference to discuss ways we can open new pathways for investment and opportunities for the oil and gas sector in New Zealand.' Mr Jones returns to New Zealand on 12 June.
