| New Zealand, all companies |
|
|---|---|
| 15% | |
| Benefit Overview
|
15% tax credit. |
| Eligible Claim Period
|
1 historic year, plus 30 days to file. |
| Historical Background
|
An R&D scheme existed in NZ for a few years around 2008-10 but was abolished.
A new scheme was introduced for the 2019-20 income year; although based on many similar schemes in anglophone countries it is still quite immature. |
| Ease of Application
|
Generally fairly straightforward; NZ Revenue is open to cooperative discussions prior to claims.
Expectation of contemporaneous documentation of R&D, although this is flexible and it is recognised that the record-keeping should not be onerous. |
| Regulating Body Policies
|
From 2020-21, claims over $2m must either seek specific approval for each R&D activity; or seek ‘significant performer’ approval for he claim methodology and certification of the R&D activities. |
| Eligible Costs | Fairly broad – works on an exclusionary basis. Generally all opex is eligible, including depreciation, as long as it can be directly attributable to R&D. There are however, particular restrictions:
|
| Issues to Consider | Strong Innovation and R&D indicators are expected, such as IP and cooperation with research organisms. |