New R&D tax credit: ownership, rights of use and control
It’s rare to have a new tax rule coming into effect before legislation has even been passed, but that’s how determined the Government is to put its new research and development (R&D) tax credit into place. As a small island nation at the bottom of the world, we know that our future economic power is not going to come from mass production or cheap labour. Instead, our best hope is great ideas well executed by local businesses using local resources. That’s why supporting R&D is such a cornerstone of strong economic policy; without it, we’re missing the opportunity to turn New Zealand into a hub of innovation.