New Zealand's Ministry of Business Innovation & Development has published a discussion document on an R&D tax incentive proposal designed with Inland Revenue and Callaghan Innovation. Key points of the proposal include:
- The incentive would be in the form of a 12.5% tax credit on eligible R&D expenditure incurred from 1 April 2019, which could be claimed on up to NZD 120 million of R&D expenditure each year (NZD 15 million credit each year, based on a 12.5% rate);
- Businesses w…