Research and Development Tax Credits – Are we any better off?
Does your business use a structured and systematic approach to acquire new knowledge or create new or improved goods, services or processes?
If so, you may be able to reduce your tax bill by 15% of your eligible spend or obtain a cash refund from 1 April 2019. Last Friday the Government announced the outline of the new R&D tax incentive, which aims to unlock further spending on R&D in NZ.
Is this the new, more practical, lean and easy-to-use application process we need to ensure tax credits for R&D activity will really work in this country?
Our Senior tax advisor, Bridget Riley reviews what is new and better under this new R&D tax credit scheme.
Read the full article here