At KPMG, we believe in innovation and growing businesses and their capabilities in New Zealand, so you can grow your business and take your product or service to the rest of the world.
The New Zealand Government provides an array of funding for all kinds of innovation and growth initiatives and, like us, they want to see businesses in New Zealand succeed. Most recently, Government has introduced the Research and Development (“R&D”) tax incentive as part of a wider reform of innovation funding in New Zealand.
The R&D Tax Incentive
The tax incentive is a relatively straight forward funding mechanism that uses modern R&D language, and should be understandable and accessible by many businesses in New Zealand. Download (PDF) our brochure on the R&D Tax Incentive.
Fortunately, the modern R&D definition doesn’t care for test tubes or lab coats – It simply asks*:
- Are you trying to solve a tough problem, through a systematic or investigative approach?
- Does your project aim to create new knowledge or a new or improved good or service?
If you answered yes to these questions, it’s likely you have some eligible R&D.
As you would expect with any tax instrument, there are some wrinkles and complexities. We want to work with you through your R&D tax incentive process, building internal capability to identify your own R&D, and ultimately become self-sufficient in the R&D claim process.
Other innovation and growth funding
While we believe the R&D Tax Incentive is a great way to provide certainty and longevity to fund R&D in New Zealand, we understand that a “one size fits all” approach doesn’t always work.
Read our Other Funding brochure (PDF) for further details.
What funding best suits your business, will depend on what stage you are in your business. We want to help you to identify the relevant funding streams for your business, so that you can continue to innovate, grow, and succeed. Our solutions will always focus on what works best for your business, so you can continue to do what you do best.
If you’re working on something new or exciting and you think there may be an opportunity for support, get in touch with us today.
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