[ad_1]
The Government announced its R&D tax incentive package this morning.
Key features include:
– a credit rate of 15%;
– a $120 million cap on eligible expenditure;
– a minimum R&D spending threshold of $50,000 per year; and
– a limited form of refund in its first year that mirrors Inland Revenue’s tax-loss cash out scheme (to be replaced by a more comprehensive approach in the scheme’s second year).
A Bill is planned for introduction into Parliament later this month or in early November.
For more information see the Ministers’ media statement and the Ministry of Business, Innovation & Employment’s website.
[ad_2]
Source link