Scoop has an Ethical Paywall
Licence needed for work use Learn More

Video | Business Headlines | Internet | Science | Scientific Ethics | Technology | Search

 

NZ Life Sciences welcomes Govt R&D plans

NZ Life Sciences Network welcomes Government plans for R&D 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&D 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."

Advertisement - scroll to continue reading

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Business Headlines | Sci-Tech Headlines

 
 
 
 
 
 
 
 
 
 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.