If you spend money on research and development, you may be eligible to claim a 15% R&D tax credit.

What exactly is the Research and Development Tax incentive?

The Research and Development Tax Incentive has been put in place to help grow NZ’s investment in R&D.  It’s available for the 2019-2020 tax year and is already in effect for many NZ businesses.

It provides a tax credit at a rate of 15% of eligible R&D spend up to $120 million.

Further eligibility criteria requires that you spend a least $50,000 per year on eligible R&D. If you spend under $50,000 you may still be eligible if you use an approved research provider. Click here to see approved provider list.

Eligible activities must:

be carried out with the express purpose of acquiring new knowledge, or to create a new or improved process, service or good,

aim to resolve a scientific or technological uncertainty, and

use a systematic approach.

If you would like to discuss your situation further to explore eligibility, get in touch and make an appointment to come in and see us.