New Zealand Inland Revenue has issued a release on the enactment of the COVID-19 Response (Taxation and Social Assistance Urgent Measures) Bill, which includes the measures recently announced by Treasury to support New Zealanders, their jobs, and businesses from the impact of COVID-19. As provided in the release, the main measures include:
- Restoring building depreciation. This would support businesses and encourage investment in new and existing buildings by reinstating depreciation deducti…