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- MP for Port Waikato Andrew Bayly
I was delighted to host Associate Minister of Agriculture Nicola Grigg in the electorate at the end of May, and we met with a number of grower organisations. Of key concern to them is the Resource Management Act (RMA) reforms and how the Government can support commercial vegetable production.
One initiative we are considering that would help support our growers is creating ‘special
agricultural areas’ around key horticulture hubs, like Pukekohe.
You can have your say through the Ministry for the Environment website.
I’ve just returned from Fieldays, where the mood amongst the farming community is upbeat.
There is definitely a sense that we have turned a corner.
Our government is working super-hard to grow our economy. This is how we will raise living standards, create higher-paying jobs, and fund public services that Kiwis depend on.
One way to achieve that growth is to encourage New Zealand businesses to invest in
productive assets, including new machinery, tools, equipment, vehicles and technology, but
how do we do this when our economy is only just starting to recover?
Budget 2025 introduced a new policy – one for which I have been advocating for a long time – that will significantly help hard-working tradies, farmers and other rural businesses to get ahead.
It’s called Investment Boost, and it comes in the form of a new tax deduction that all
businesses, small and large, can make. It came into effect on May 22.
Businesses can claim 20 per cent of the cost of new assets as an expense, then claim
depreciation as usual on the remaining 80 per cent. As an example, if a farmer wants to buy a new tractor costing $100,000, they can immediately deduct $20,000 from their taxable income.
At Fieldays, I spoke to several businesses about Investment Boost. They said the ability to
expense a large chunk of the initial outlay on new equipment is helping them bring forward
their decision to invest in new assets.
These businesses are located here in our electorate, and the investments they intend to make will help pump money directly into our local economy, making everyone better off.
For electorate issues, contact me at andrew@baylymp.co.nz
