New Zealand has published draft guidance on the proposed research and development (R&D) tax credit, which is currently pending approval in parliament ({News-2018-10-29/P/3-previous coverage}). Key features of the proposed R&D tax credit include a:
- 15% tax credit for eligible expenditure
- minimum R&D expenditure threshold of NZD 50,000 per year;
- NZD 120 million cap on eligible expenditure;
- definition of R&D intended to ensure accessibility across all sectors; and
- limited form …