Removal of commercial tax writeoffs – Labour makes another major U-turn

Removal of commercial tax writeoffs – Labour makes another major U-turn
"A change to restore and correct policy settings" – Grant Robertson 2020. (Image: Getty)
Brent Melville
Labour’s election plan to remove tax depreciation for commercial buildings to help fund zero-rating fresh and frozen fruit and vegetables from GST represents a “politics over policy” decision, a tax expert says.The depreciation deduction was costed at $2.1 billion over the first four years at a 2% diminishing value when it was reinstated as a covid relief measure in 2020. The removal of 15% GST on fresh and frozen fruit and vegetables, which would be brought in from next April – assuming Labour form the next governm...

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