Watch: Christopher Luxon and Nicola Willis speak in Auckland
Prime Minister Christopher Luxon and Finance Minister Nicola Willis are speaking to the media in Auckland.
Luxon and Willis have been visiting Griffins Foods in Papakura following the government's Budget announcement of a
tax incentive targeting businesses
.
The
Investment Boost policy
would allow a business to immediately deduct 20 percent of the cost of a new asset on top of depreciation.
The policy came into force immediately, and applies to assets purchased in New Zealand as well as new and used assets imported from overseas.
"It includes commercial buildings but excludes land, residential buildings, and assets already in use in New Zealand."
On Budget Day, Willis said there was no cap on the value of eligible investments and all businesses could benefit.
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