INDEPENDENT NEWS

R&D move accentuates the positive, at last

Published: Tue 24 Oct 2000 05:12 PM
Media Release October 24th, 2000
R move accentuates the positive, at last
Finance Minister Michael Cullen's announcement today that the rules governing the tax treatment of R expenditure are to be aligned with "Generally Accepted Accountancy Practice" is a useful first step, says the Employers & Manufacturers Association (Northern).
"We are pleased Government is beginning to honour its pledge with regard to how businesses can treat their R costs," said Alasdair Thompson, EMA's chief executive.
"Even more promising is the discussion paper Dr Cullen is having prepared on the topic.
"We are optimistic Government will allow R to be treated in the same way that other business expenses are, and written off in the year they are incurred.
"All other developed countries we know of allow this. Countries such as Canada allow tax credits for firms spending on R, while others such as Australia allow R costs to be written off at 125 per cent of their costs.
"We don't expect that here, though we do expect New Zealand to match other countries to encourage R work. New Zealand has been alone in not doing this for many years."
Further comments: Alasdair Thompson tel 09 367 0911 (bus) 09 303 3951 (hme) 025 982 024

Next in New Zealand politics

History rectified - Rua Kēnana to be pardoned
By: New Zealand Government
Initial Mental Health and Wellbeing Commission appointed
By: New Zealand Government
NZ history to be taught in all schools
By: New Zealand Government
Jacinda Ardern accepts Labour Party President resignation
By: New Zealand Labour Party
Wellbeing to be enshrined in law
By: New Zealand Government
What Simon Bridges said about the Communist Party of China
By: RNZ
Gordon Campbell on the SIS/GCSB’s compliance with torture
By: Gordon Campbell
Suicide Prevention Office to drive action to save lives
By: New Zealand Government
NZ First driving better mental health outcomes for kiwis
By: New Zealand First Party
Initial Mental Health and Wellbeing Commission is welcome
By: Office of the Health and Disability Commissioner
Plaque to commemorate NZ Wars unveiled at Parliament
By: New Zealand Government
Aotearoa history to be taught in all schools
By: Green Party
NZEI Te Riu Roa welcomes Aotearoa history announcement
By: NZEI
Waitangi Treaty Grounds pegged for NZ historic landmark
By: RNZ
Statement from Nigel Haworth: Resigning as Labour President
By: New Zealand Labour Party
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media