R&D Tax Incentive
The Government has announced its intention to introduce a Research and development (R&D) tax incentive in 2019 to help more businesses undertake a greater amount of R&D.
Submissions closed on Friday, 1 June 2018. Officials from the Ministry of Business, Innovation and Employment, Inland Revenue and Callaghan Innovation are now producing final recommendations on the design of the scheme. This will be presented to Cabinet for agreement in September 2018, after which the Government will publically announce the policy.
There will be further opportunities to have your say on the design of the R&D tax incentive during the select committee process later this year.
Legislation will be introduced in October 2018 so the R&D tax incentive can be in place by 1 April 2019.