Scoop has an Ethical Paywall
Budget provides tax relief to certain R&D expenditure
Media release
16 May 2013
Budget provides tax relief to certain R&D expenditure
In many respects just a grant by any other name
The Budget includes an announcement that “small, innovative businesses” will be able to cash up tax losses on R&D up to a certain limit, says Deloitte CEO Thomas Pippos.
The reality is cashing up of losses is just another form of government grant.
“Either way, it is good news for start-ups,” says Mr Pippos.
Interestingly, this is not a far cry from the 15% tax credit for research and development expenditure that the National Government previously repealed – albeit on a significantly smaller scale, which is likely to be the real difference.
“A discussion document will be released in June to consult on the proposals, and as always, the devil will be in the detail,” concludes Mr Pippos.
ends
Gordon Campbell: On The Political Panic Over Immigration
Better Public Media: Opposing Plans To Scrap The BSA
Internal Affairs: Citizenship Test For Citizenship By Grant Applicants From Late 2027
Dayenu: Condemning Use Of Government Funding For Extremist Report On Antisemitism
PSA: Councils Must Work With Unions And Communities In Fast-Track Reform
Tauranga City Council: Mauao Restoration Work Has Begun
Horizon Research: New Poll Finds High Concern About Fuel Situation
