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Government considered $36 million tax break for company cars

It’s the tax exemption blamed for New Zealand’s extraordinarily high uptake of polluting double cab utes, but instead of closing the loophole the Government actually looked at extending it to all vehicles for the period of the Covid-19 lockdown – at a cost of $36 million. Papers obtained by Stuff under the Official Information Act show tax officials drew up plans to exempt all motor vehicles from paying Fringe Benefit Tax or FBT whenever the country was in a level 4 lockdown, costing roughly $36m.

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