There’s a New R&D Loss Tax Credit that Could Help

Big ideas can take on a life of their own. They demand a lot of attention – filling your days and keeping you up at night. They can also soak up a lot of money. That’s where the new Research and Development (R&D) Loss Tax Credit could help. We all know that Kiwis have a huge amount of know-how, motivation, creativity and determination. Taking a good idea from a rough sketch to a real thing takes more than just time and energy. It also takes a significant investment.

That’s why the Government has introduced the R&D Loss Tax Credit – to help improve your cash flow. That way you’ll have money at hand to keep working on your big idea when you need it most. Once you’ve got something to sell, and have money coming in, your success will make all of your hard work worthwhile. You are not alone in wanting to succeed. Innovation is crucial to New Zealand. New knowledge gained as the result of research and development can lead to new processes, new materials and new jobs. The new products and devices that currently live in your imagination could give us a competitive edge and boost the economy. That’s why Government is committed to encouraging research and development. And it all starts with people like you, making big ideas happen.

 

Cash to Keep Creating

The new R&D Loss Tax Credit aims to ease the financial challenge for innovative companies like yours by helping you to access some of your tax losses sooner. Eligible companies could get up to 28% of their tax losses from research and development returned to them. Having access to this money could be a real lifeline for businesses, helping them to continue getting their big ideas ready for the world.

 

Don’t Miss Out, Find Out if you’re eligible today

If your company meets eligibility criteria, you can start claiming back tax losses from the 2015/16 tax year. To find out if your company is eligible, and apply online now, visit www.ird.govt.nz/rd-credit. If you think your company might be eligible, don’t delay. To receive a R&D Loss Tax Credit, you must submit your application to Inland Revenue before your income tax filing due date for the 2015/16 tax year. Make sure you don’t miss out. Go online now to find out if you’re eligible.


Apply now at www.ird.govt.nz/rd-credit