Get an Additional 20% Tax Deduction on New Business Vehicles
Receive a tax benefit when you invest in a new vehicle for your business.
From 22 May 2025, eligible New Zealand-registered businesses can claim an additional 20% tax deduction on new assets.
How does it work?
- Purchase a brand new vehicle for business use on or after 22nd May 2025.
- Claim 20% of the vehicle’s value as a one-off deduction.
- Continue claiming depreciation on the remaining 80%.
- No forms or applications required – your accountant includes this in the return.
Upgrade your business fleet at Ingham North Harbour and take advantage of the 2025 Investment Boost.
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Terms & Conditions:
*Information on this page is for reference only. You should seek independent advice from your account or lawyer. For more information visit https://www.ird.govt.nz/income-tax/income-tax-for-businesses-and-organisations/types-of-business-expenses/new-assets—investment-boost
Internal Code #1570