New Zealand Inland Revenue has published for consultation draft R&D Tax Incentive guidance to reflect proposed legislative changes. The changes are included as part of the Taxation (KiwiSaver, Student Loans, and Remedial Matters) Bill.
Proposed changes include:
- The introduction of a new cap on the total amount of R&D tax credits that can be refunded from 2020-21 that is based on the amount of labor-related taxes paid by a business, including any PAYE (which includes withholding ta…