Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Chamber welcomes new R&D tax incentives

Business Central welcomes the new research and development tax incentives announced by the Government today.

"This is the sort of move business has been advocating to encourage more innovation, and it’s great the Government has seen the merit in what we were saying," says Chief Executive John Milford.

"Small business, in particular, will benefit from the halving of the amount of R&D investment required before a tax credit can be claimed, from $100,000 to $50,000. Raising the rate from the proposed 12.5% to 15% is also an unexpected bonus.

"These changes, plus the fact that knowing before they even start their R&D work that their application for the tax credit has been pre-approved, will no doubt encourage a lot more of them to innovate where otherwise they might not have, and that’s exactly what we need to see happen for the good of the economy.

"Taking a lot of the uncertainty out of the equation means a lot to businesses where R&D money is tight.

"These are the type of incentives that business can immediately relate to, and over time they will help to lift productivity."


© Scoop Media

Business Headlines | Sci-Tech Headlines


Up 0.5% In June Quarter: Services Lead GDP Growth

“Service industries, which represent about two-thirds of the economy, were the main contributor to GDP growth in the quarter, rising 0.7 percent off the back of a subdued result in the March 2019 quarter.” More>>


Pickers: Letter To Immigration Minister From Early Harvesting Growers

A group of horticultural growers are frustrated by many months of inaction by the Minister who has failed to announce additional immigrant workers from overseas will be allowed into New Zealand to assist with harvesting early stage crops such as asparagus and strawberries. More>>


Non-Giant Fossil Disoveries: Scientists Discover One Of World’s Oldest Bird Species

At 62 million-years-old, the newly-discovered Protodontopteryx ruthae, is one of the oldest named bird species in the world. It lived in New Zealand soon after the dinosaurs died out. More>>

Rural Employers Keen, Migrants Iffy: Employment Visa Changes Announced

“We are committed to ensuring that businesses are able to get the workers they need to fill critical skills shortages, while encouraging employers and regions to work together on long term workforce planning including supporting New Zealanders with the training they need to fill the gaps,” says Iain Lees-Galloway. More>>


Marsden Pipeline Rupture: Report Calls For Supply Improvements, Backs Digger Blame

The report makes several recommendations on how the sector can better prevent, prepare for, respond to, and recover from an incident. In particular, we consider it essential that government and industry work together to put in place and regularly practise sector-wide response plans, to improve the response to any future incident… More>>