The Taxation (Research and Development Tax Credits) Bill proposes to introduce a research and development tax credit (R&D tax credit) to incentivise businesses to perform research and development (R&D) in New Zealand. The Bill is expected to be enacted mid-2019 with the tax credit applying from the 2019-20 income year.
The draft legislation follows the consultation document Fuelling Innovation to Transform our Economy: A Discussion Paper on a Research and Development Tax Incentive for New Zealand, which was released earlier this year
Read more in the attached PwC TaxTips newsalert.
