The Finance and Expenditure Select Committee of Parliament has reported back a tax bill that would allow: (1) research and development (R&D) tax losses for qualifying businesses; and (2) tax deductions for certain currently non-deductible and non-depreciable (“black hole”) R&D expenditures.
The bill also includes provisions to clarify the goods and services tax (GST) treatment of "bodies corporate" and certain miscellaneous international tax and other remedial amendments. The bill is now pending enactment.
Read a September 2015 report [PDF 598 KB] prepared by the KPMG member firm in New Zealand: R&D Tax Bill reported back
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