Summary
This guide outlines the New Zealand R&D tax incentive introduced in 2019, which offers a 15% tax credit on eligible expenditure. It specifies that a minimum spend of $50,000 is required, with a cap of $120 million, and allows for 10% of claims related to overseas R&D activities under certain conditions. The document details the roles of various team members, including the CTO and CFO, in determining eligibility and tracking expenditure. It emphasizes the importance of training staff involved in R&D activities to ensure compliance with legislative requirements. The guide also describes the process for obtaining general approval for activities and filing supplementary returns for claims. Key compliance considerations are presented, including record-keeping, capturing staff time, and understanding the eligibility criteria for core R&D activities. The document concludes with a flowchart to help identify eligible R&D activities and outlines the necessary documentation to support claims.
