3 days ago
- Business
- 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.
