
How it works
When you purchase a brand new vehicle or truck for business use, you may be able to claim:
- An immediate 20% tax deduction on the purchase price in the current financial year (depending on your business’s tax year-end).
- This is in addition to the usual tax depreciation already available, calculated as if the asset’s value were reduced by 20%.
- This means a more immediate tax benefit, especially valuable if you’re nearing the end of your financial year.
To qualify for the Investment Boost, your vehicle purchase must meet the following criteria:
- The vehicle must be brand new (not used or second-hand)
- Purchased on or after 22 May 2025
- Used primarily for business purposes
- Bought by a New Zealand-registered business