New tax rules provide opportunity for R & D cash-back

There is now an opportunity for a New Zealand company with tax losses, which undertakes a form of research and development, to claim a cash credit back. The definition of research and development expenditure is very broad, so this is not limited to tech businesses – you just need to be an operating company doing simple things such as seeking to improve your processes. By way of example, under the prior rules the biggest earners of the same types of credits were banks.

This opportunity has been brought to our attention by our friends at Bellingham Wallace Accountancy, and more information about the opportunity is available on their website here.

Image courtesy of gotcredit.com