New Zealand Inland Revenue has announced the publication of guidance on the R&D tax incentive following the enactment of the Taxation (Research and Development Tax Credits) Act 2019 on 7 May 2019 ({News-2019-05-16/A/4-previous coverage}). The guidance covers:
- Eligible activities, entities, and expenditure;
- Using, and becoming, an approved research provider;
- Claiming and receiving the tax credit; and
- Managing disputes.
The R&D tax incentive is generally available for expenditure on…