Research and development tax incentives

Helping businesses reduce the cost of doing R&D

The R&D incentives regime is changing in 2019. The R&D tax incentive is replacing the Callaghan Innovation Growth Grant.


Contact us to find out what this means for your business.

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Changes at a glance

  • 15% tax credit on eligible expenditure, effectively reducing the cost of conducting onshore R&D.
  • Eligible R&D expenditure must be at least $50,000 p.a.
  • Tax specific definition of R&D.
  • Applies from the start of your 2019-20 income tax year.
  • Transition rules apply to Callaghan Innovation Growth Grant recipients.
  • Limited refundability for loss-making entities.

To get started

The R&D tax credit regime introduces new opportunities, compliance requirements and tax risks to be managed. You may be eligible if the R&D you undertake in New Zealand is systematic and seeks to resolve scientific or technological uncertainty.

Come talk to us if you are thinking about claiming an R&D tax credit.
Our experienced R&D specialist team can identify the opportunity and work with you on a plan to access this opportunity.

 

Our services

Workshops and upskilling

Our workshops will enable your team to:

  • Understand which R&D activities qualify and your return on investment.
  • Document eligible expenditure.
  • Identify a strategy around accessing the in-year approval regime.

 

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Documenting your R&D

Businesses will be required to adequately record eligible R&D expenditure to qualify for the tax credit. You will need to ensure your R&D reporting systems are sufficient.

We can help you manage your compliance and minimise tax risk by:

  • Recommending robust cost allocation systems for your R&D activity.
  • Designing processes that accurately document your R&D workflow in real time.

 

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R&D tax compliance

The range of annual compliance and review services we offer that help with filing a claim includes:

  • Accurate and timely submission of the R&D supplementary return.
  • Preparing or reviewing your R&D supplementary return and supporting documentation.
  • Liaising with the Inland Revenue and keeping you up-to-date on compliance requirements.
  • Defending your claim if audited or reviewed by Inland Revenue.
  • Supporting your application for the in-year approval regime.

 

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Jill Somerfield

Partner, Auckland, PwC New Zealand

+64 21 940 865

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Anand Reddy

Partner, Auckland, PwC New Zealand

+64 27 592 1394

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Troy Florence

Partner, Auckland, PwC New Zealand

+64 21 786 595

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Nadine Williams

National R&D Director, PwC New Zealand

+64 21 846 464

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Sandy Lau

Partner, Wellington, PwC New Zealand

+64 21 494 117

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Andrew Scott

Director, PwC New Zealand

+64 21 917 185

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Saurav Malhotra

Senior Manager, PwC New Zealand

+64 21 825 107

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