The New Zealand Government has made a range of changes to assist business owners to invest in their businesses, whether that is keeping staff on, training new people up, or investing in business assets.
One of these changes that may have flown under the radar, but which may be of interest to our clients–past, present, and future–is the change to the low-value asset depreciation threshold. Previously, the expense of assets over $500 in value couldn’t be fully claimed against income in a given financial year and instead had to be recorded in an asset register and depreciated over time. This year, however, for assets purchased between 17th March 2020 and 16th March 2021, assets valued at up to $5000 can be fully expense claimed. This measure is expected to help with business cash flow and to help businesses support each other by making purchases they might otherwise have deferred.
This change might have particular relevance to:
- Childcare Centres
So, if you’d like to improve your office, tenants’, or facility heating GET IN TOUCH and we can discuss the best option for you.