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

 

Increased support for innovation


Moves to broaden R&D tax incentives for more businesses have been welcomed by BusinessNZ.

The Government has announced a tax incentive for investment in research and development by companies that have yet to make a profit. A rebate up to the level of their payroll tax paid in the same year will be available for new and loss-making firms.

BusinessNZ Chief Executive Kirk Hope said the new incentive, along with Callaghan Project Grants and the current R&D tax credit, would provide innovation incentives to a broader range of businesses.

"In the past, small start-ups and businesses engaging in the risky process of developing something new were not eligible for R&D tax relief if they were not making a profit.

"This new incentive will help foster innovation among currently loss-making businesses and create a fairer scheme for greater innovation in the New Zealand economy generally."

ENDS


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Marine And Freshwater Reports: EDS Calls For Urgent Action On Marine Management

“There are some big issues to address. These include many marine species and habitats that are in serious trouble. Of the sample investigated, the report finds that 22% of marine mammals, 90% of seabirds and 80% of shorebirds are threatened with or actually at risk of extinction..." More>>

ALSO:

$7.5 Billion Surplus: Government Accounts "Show Strong Economy"

“The surplus and low levels of debt show the economy is in good shape. This allows the Government to spend more on infrastructure and make record investments in health and education,” Grant Robertson says. More>>

ALSO:

New OIO Application Trumps Judicial Review: OceanaGold Cleared To Buy Land For Waihi Tailings Expansion

In a surprise turnaround, the government has given OceanaGold a greenlight to buy land to expand its Waihi mine after the application was previously turned down by Land Information Minister Eugenie Sage. More>>

ALSO:

Christchurch Rebuild: Fletcher Sued For $7.5m Over Justice Precinct

Fletcher Building is being sued for $7.5 million by utilities contractor Electrix, one of the subcontractors on the Christchurch Justice and Emergency Services Precinct. More>>

Three New Drugs: PHARMAC Signs Bundle Deal For More Cancer Medicines

420 New Zealanders with lung cancer, breast cancer, multiple sclerosis and respiratory disease will benefit each year from a bundle deal PHARMAC has finalised with a medicine supplier. More>>

ALSO: