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New research and development tax incentive launched

Man working on laptop beside a wind farm.

New research and development tax incentive launched

Man working on laptop beside a wind farm.

New research and development tax incentive launched

On 7 May 2019 Government established a new tax incentive aimed at encouraging more business investment in research and development.

The Research & Development Tax Incentive will be available to eligible businesses from the 2019/20 income year. It features a 15% tax credit on up to $120 million of eligible expenditure.

The existing Research & Development Loss Tax Credit will continue to be available for eligible companies.

 

What can I do now?

Our R&D Tax Incentive Guidance has been published. This guidance is also available at our R&D Tax Incentive guidance forum, where we welcome comments and feedback. The guidance gives detail on:

  • the purpose of the R&D Tax Incentive
  • how the incentive works
  • eligible entities
  • eligible activities
  • eligible expenditure, and
  • what records you need to keep.

Use the R&D Tax Incentive eligibility tool - This tool will help you determine if your organisation and activity may be eligible.

Start keeping records - If you may be eligible to claim the R&D Tax Incentive, start keeping records now. See the Guidance to learn what you need to keep.

 

Enrolment

You can now enrol for the R&D Tax Incentive through your myIR account. Choose the I want to tab and R&D Tax Incentive enrolment. Once enrolled, you'll have access to the R&D Tax Incentive workspace where you'll be able to complete the required forms to claim the tax credit.

If you indicate that you would like contact from us, we'll be in touch within 10 working days.

 

What we're doing

We're working to develop information and tools that will help you:

  • apply for the R&D Tax Incentive at the end of your 2020 tax year.

We'll post updates on this page as they are made.

Stay up-to-date with R&D Tax Incentive news by subscribing to Callaghan Innovation's Accelerate newsletter

 

Approved research providers

Using an approved research provider

Businesses must spend more than $50,000 on eligible R&D in a tax year to claim this new tax incentive, unless they use an approved research provider.

Find out more about using an approved research provider

Becoming an approved research provider

If you carry out research and development activities for other businesses, you can apply to become an approved research provider by:

  1. completing the Approved research provider application form - IR1203
  2. emailing the completed form to us at: R&DTIteam@ird.govt.nz

Find out more about becoming an approved research provider

Approved research provider list

We'll publish the names of research providers that we have granted approved research provider status.

Go to the approved research provider (ARP) list