Oceania Research & Development Incentives
Innovative companies are playing key roles in their national economies, with research and development investments made by business being substantial drivers of growth and prosperity for nations. Due to this R&D incentive regimes are being reformed world wide at an unprecedented rate to accommodate and attract highly innovative companies to invest in their economy.
Many countries promote and encourage R&D operations in their economy as part of strategic plans to increase research activities and develop their nation. Countries which offer R&D tax incentives are considered favourable locations for internationally-mobile R&D companies.
New Zealand does not currently have a R&D tax credit, however in the 2013 Budget a proposal to re-introduce an incentive for R&D intensive business was introduced. Although not a full reinstatement of the R&D tax credit, it is a useful future source of cash for start-up R&D intensive New Zealand businesses.