New Zealand Draft Guidance on Proposed R&D Tax Credit

New Zealand has published draft guidance on the proposed research and development (R&D) tax credit, which is currently pending approval in parliament ({News-2018-10-29/P/3-previous coverage}). Key features of the proposed R&D tax credit include a:

• 15% tax credit for eligible expenditure
• minimum R&D expenditure threshold of NZD 50,000 per year;
• NZD 120 million cap on eligible expenditure;
• definition of R&D intended to ensure accessibility across all sectors; and
• limited form …