NZ Life Sciences Network welcomes Government plans for R tax changes
"The Government's commitment to make investment in all research and development expenditure eligible for full expensing
and to accelerate the depreciation regime for new capital investment in technology will be music to the ears of the
research community," the interim chairman of the NZ Life Sciences Network, Doctor William Rolleston, said today.
"It is most unfortunate the Government's commitment to change will take time to realise because, as recent events have
shown the research sector is suffering from lack of investment and opportunity.
However, we are grateful the incoming Government has recognised New Zealand's future as a scientific centre of
excellence depends on a taxation system which embraces technological change.
"To be able to compete on an even footing we have to have a taxation regime which provides similar benefits to those
countries with whom we compete. The current R tax regime is distorting and provides a disincentive to local and international investors.
"Without urgent action we will continue to see the science brain drain continue. It is good to see the Government take
some steps in the right direction."