On 24 February 2016, New Zealand's Taxation (Annual Rates for 2015-16, Research and Development, and Remedial Matters) Act 2016 received Royal assent. The main changes relate to loss-making research and development (R&D) start-ups, non-deductible and non-depreciable R&D expenditures, and remedial changes to controlled foreign company (CFC) rules.
"Cash Out" Credit for Tax Losses of R&D Start-ups
The Act includes measures to allow loss-making research and development (R&D) s…