On 25 October 2018, the Taxation (Research and Development Tax Credits) Bill was introduced in New Zealand's Parliament. The Bill provides for the introduction of a research and development tax credit to incentivize businesses to perform research and development. As provided in the explanatory note, the key aspects of the Bill are as follows:
Defining an eligible person
The Bill proposes requirements for who is eligible for a research and development tax credit. The key requirements are t…