Filing date change for RDTI general approval applications. Read more
In today’s challenging economy, investment in research and development (R&D) is vital. R&D creates new knowledge, high value products, innovative processes and services, and skilled jobs for more New Zealanders.
The R&D Tax Incentive (RDTI) helps make R&D possible. It allows qualifying businesses to claim a 15% tax credit on their eligible research and development (R&D) costs, reducing the income tax they need to pay. Loss-making businesses can apply to have this tax credit refunded or carried forward.
There are ways for businesses to access the RDTI even if their R&D investment is small (less than $50,000 pa), or even if the outcomes of their R&D are not successful.
If you are filing a general approval application relating to the R&D Tax Incentive (RDTI) for the 2020/2021 income tax year, you can now have more time to apply.
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R&D is about discovering the unknown. It seeks to resolve scientific or technological uncertainty and, in doing so, it can give your business a competitive edge.
To qualify for the RDTI, your R&D must occur in New Zealand and follow a systematic approach. It needs to address a question that a competent professional with access to worldwide, publicly available information can’t answer.
If now is the time to reset or revitalise your R&D programme, you’ve come to the right place.
