Last chance to make that $5,000 rifle or shotgun tax deductible

For all those members who are self employed, the IRD's $5,000 asset threshold finishes on 17 March 2021 (this week)

This was one of the bits of government legislation that was enabled to get New Zealand businesses spending

After 17 March 2021, the asset threshold drops to $1,000

From a practical approach, self employed members can tax an immediate tax deduction on any asset under $5,000 (exc GST) that is used in their business. This includes computers and cell phones etc, but also farm rifles, shotguns, scopes, binos.

Only a few days to go, but if you are looking to buy, this might be worth considering a purchase prior to the roar or duck shooting