R&D Tax Credit NOW Available for Your Business
Did you know you may be eligible for an R&D tax credit THIS Year?
If you completed R&D in the 2019-2020 tax year, you could be eligible to claim your core and supporting R&D activity on your tax return.
The Government has set a target to raise New Zealand’s research and development expenditure to 2% of GDP over the next 10 years to stimulate a more productive, sustainable and inclusive economy.
From 1 April 2019, a 15% tax credit has been introduced, replacing the existing Callaghan Growth Grants. A minimum spend of $50,000 is required and all businesses, regardless of legal structure, will be eligible.
Earlier this month, we hosted KPMG for an R&D seminar. If you would like to learn more about the R&D tax incentive and how to utilise it for your business, reach out to your KPMG account manager or click the links below for further information: