Asset Claims 2025

Claim full business purchases of up to $1,000 against your tax

If you’re running a business in New Zealand, it’s important to understand how to claim deductions for your business assets in the 2026 tax year, which runs from 1 April 2025 to 31 March 2026. Claiming these assets correctly can make a real difference to your bottom line at tax time.

You can claim the cost of assets that are used in your business and help you earn income. This includes things like tools, computers, vehicles, and machinery. If the asset costs $1,000 or less, you can usually claim the full cost in the same year you bought it. For anything over $1,000, you’ll need to claim the cost over time using depreciation.

Depreciation is a way to spread the cost of an asset over its useful life, and there are two methods to choose from: the Diminishing Value method, which gives you higher deductions in the early years, and the Straight Line method, which spreads the cost evenly over time. You can choose the method that works best for your situation.

For more information or if you’d like to discuss your options, contact the team at Tag, we’d love to help.