Tax change would boost technology sector
Sunday 11 July 2004
The technology sector could get a boost from a new IRD report due out on Monday which is likely to float the idea of changing tax rules to encourage capital expenditure on assets such as computers.
By The Landlord
As NBR revealed last month (June 18), the wide-ranging issues paper, wittily titled "Repairs and Maintenance to the Tax Depreciation Rules," is likely to send shudders through the property sector by clamping down on people claiming exorbitant levels of depreciation on residential properties.But another part of the 190-page document may offer a helping hand to business, with economists crunching the numbers to determine whether tax treatments could be changed to allow businesses to write off plant and technology at a faster rate.
Finance Minister Michael Cullen has indicated he wants to look at whether the private sector is not investing as much into capital infrastructure as it should be for this country to be internationally competitive.
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