Govt's depreciation plan for advanced manufacturing

Fisher & Paykel Healthcare – an exemplar for NZ advanced manufacturing. (Image: Supplied)

Mon, 13 Mar 2023

The government’s latest industry transformation plan (ITP) proposes accelerated depreciation on new plant, machinery and equipment as having “potential to be a pivotal action” to incentivise investment in new technology to improve manufacturing productivity.The ITP, one of eight being developed through consultations between government agencies, business interests and trade unions, notes that accelerated depreciation is used in most developed and small advanced economies.“New Zealand is an outlier in the amount of capital...

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