INDEPENDENT NEWS

Increased support for innovation

Published: Fri 12 Jul 2019 11:31 AM
Moves to broaden R tax incentives for more businesses have been welcomed by BusinessNZ.
The Government has announced a tax incentive for investment in research and development by companies that have yet to make a profit. A rebate up to the level of their payroll tax paid in the same year will be available for new and loss-making firms.
BusinessNZ Chief Executive Kirk Hope said the new incentive, along with Callaghan Project Grants and the current R tax credit, would provide innovation incentives to a broader range of businesses.
"In the past, small start-ups and businesses engaging in the risky process of developing something new were not eligible for R tax relief if they were not making a profit.
"This new incentive will help foster innovation among currently loss-making businesses and create a fairer scheme for greater innovation in the New Zealand economy generally."
ENDS

Next in Business, Science, and Tech

Nine sunscreen brands fail protection tests - Consumer NZ
By: RNZ
Media reports regarding possible transaction to acquire Stuff
By: NZME
Plan of action to protect seabirds
By: New Zealand Government
Fairer rules for tenants and landlords
By: New Zealand Government
Big brands fail sunscreen test
By: Consumer NZ
Sunscreens are safe
By: Cosmetics NZ
Endangered seabirds need strong fishing rules
By: Forest And Bird
Call for zero bycatch, 2016 a bad year for seabirds
By: Forest and Bird
REINZ welcomes banning of rental bidding with RTA proposals
By: REINZ
Landlords will not be able to protect neighbours
By: NZ Property Investors Federation
Proposed changes to tenancy rights are trickle down
By: Manawatu Tenants' Union
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media