Drive your business further with a 20% tax deduction on your next business vehicle purchase.
As part of the 2025 New Zealand Government Budget, eligible New Zealand-registered businesses can claim an extra 20% tax deduction on qualifying new vehicle purchases from 22 May 2025 onwards, on top of standard depreciation. That means more savings, better cashflow, and the perfect time to upgrade.
For example, buy a $70,000 vehicle and claim an additional $14,000* in first-year deductions. No applications, no extra forms, just smart business.
Talk to the team at Bayswater Vehicles to make the most of the Investment Boost.
How it works.
When you purchase a brand new vehicle 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.
Am I Eligible.
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
Our services can provide the right vehicles to help drive your business forward.
Terms & Conditions.
Information on this page is for reference only and does not constitute financial or tax advice. Please seek independent advice from your accountant to determine how this applies to your specific situation.