THE R&D TAX INCENTIVE Webinar May 2020 IN CONFIDENCE 1 - - PDF document

IN CONFIDENCE

THE

R&D TAX INCENTIVE

Webinar – May 2020

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Welcome to this webinar

What we’ll cover

• Getting started
• Partnerships and joint ventures
• Eligible expenditure
• Core activities
• Supporting R&D activities
• Associated persons
• Broader refundability
• The refundability cap
• Limited refundability rules
• Approved Research Providers
• Attachments, review, evaluation

Kia Ora and welcome to our webinar. This webinar is about the Research and Development Tax Incentive (RDTI). The purpose is to offer guidance around completing the project and activities related information in myIR. We’ll cover entities, expenditure and activities as well as refundability, and Approved Research Providers. Just a quick note, the content of this webinar is correct as of 5 May 2020. Some details may change. Before we start, I’ll run through what you should be seeing on your screen. The main presentation slides are on the left of your screen. You’ll also see a small control panel at the bottom of your screen that contains a few buttons. When you click on each of these buttons, you’ll see they either open

• r close some of the features which may already be open on your screen.

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Introducing the supplementary return

• Return can be saved for up to 20 days
• Must be completed by 30 days after

the due date for your tax return

• No late applications
• Unless you are linked to a tax agent this

means forms are due on 6 August

• Involve those undertaking your (R&D)
• New refundability measures included
• Changes coming in the 2020-2021 tax

year

Today I will show you how to complete the supplementary return to claim the Research & Development tax incentive (RDTI) or tax credit. This return may be saved as a draft for up to 20 days. If you don’t have a linked tax agent it must be filed by the 6th of August 2020 which is 30 days after the due date for your tax return. Please note we wont be accepting late applications. Your applications will be assessed by Inland Revenue and by technical experts from Callaghan Innovation. When describing your project and activities the people who are undertaking the research are in the best position to provide the information about the technical and scientific uncertainty you are trying to resolve., so we encourage you to actively engage your technical team during this stage. The return includes the broader refundability measures recently introduced and we’ll cover these fields in this webinar. There will be changes to the return for the 2020-2021 tax year and we will provide updated guidance around that closer to the time.

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Before you start

You’ll need:

• to be the myIR account owner or

have been granted access to the R&D account type

• information on:
• your R&D activities
• business performance
• partnering organisations
• separate applications for:
• look-through companies
• joint venture parties
• partners in partnerships

1. 2.

Before you get started there are some key things you need to do to get ready. You’ll need to be the myIR account owner or have been delegated access to the R&D account type and you’ll need:

• Information on your eligible R&D activities and expenditure
• Business performance information and
• Names and IRD numbers of organisations who performed this R&D with you, for

example in a partnership or joint venture, or R&D contractor information If you are an owner of a look-through company (LTC) you will need to apply separately for the tax credit and claim your share Each party in a joint venture or partnership needs to apply and file a supplementary

• return. Make sure each party uses the same project name and activity descriptions in

their application.

When you are ready log onto myIR and select the R&D Tax Incentive tile and go

to the period tab and select the 31-Mar-2020 return . 4

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Getting started

• Project information
• A ‘project’ is a group of related

core and supporting activities.

• Some activities will be core R&D

activities.

• Others will be supporting

activities.

• Others won’t be eligible and

should not be included.

• Consider how you will demonstrate

eligibility

• To start, click Add project

In the project information page, you provide us with a basic overview of your R&D project or projects and a summary of your expenditure on each project. A ‘project’ is a group of related core and supporting activities. If you do not have a concept of ‘project’, you can treat each core R&D activity as a separate project.

You will have already broken your project down into bite size chunks. Some of the core and supporting activities that make up your project could be eligible for the RDTI but not necessarily all of them. For example, you may have divided your project into:

• Reading up on widgets;
• Development of your special widget;
• Testing of the widget;
• Analysis of the testing; and
• Prototyping of something from the widget.

Consider these to be activities. Some will be core and meet the eligibility criteria (for example, development of the widget, and the prototyping of something from the widget). Others will be supporting activities (for example, reading up about and testing of the widget, and the analysis of the testing). 5

And finally, others won’t be eligible (for example, the administrative aspects of patenting the widget). Next, consider how you will demonstrate that the core activities will meet the eligibility criteria. What evidence you will use to prove it is new to the world etc. (We’ll look at eligibility criteria in more detail later). When you are ready select the add project button. 5

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Getting started

Set up your project information

• Assign a project identifier
• Complete the Start date
• Briefly describe your project

Do not include core or supporting activities yet - these will come later

The first field is the project identifier field. If you have more than one project this will help you identify which one you are completing. Make sure you assign a descriptive title as the project identifier. The next field is the Start date. For example, it can be today, or it could be 2 years ago depending on when you started your project. Next you will Describe the overall objective of your project. This should be a brief description of your project objectives that will help us understand the outcomes and deliverables that you are trying to, or already have, achieved. If possible, please include the number of people actively involved in the project. Keep in mind the previous section related to R&D projects and how they differ from activities. At this point do not include the core or supporting activities within the project. You will provide them in a later section.

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Partnerships and Joint Ventures

Partnerships and Joint Ventures Indicate if this R&D project is being carried out as part of a partnership or joint venture. If you are a look through company click yes to partnership. Partnerships and Joint Ventures only claim their share of the eligible expenditure. More information is available in our guidance material. Go to www.ird.govt.nz keyword search IR1240

The next question to be answered is whether this project was carried out as part

• f a joint venture or partnership.

If you are applying as an owner of a look-through company, please answer yes to the partnership question.

If you are a partner in a partnership, a member of a joint venture or an owner of a look-through company, you will only claim your share of the eligible expenditure. There is more information about this available in the guidance material on our website. 7

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Eligible expenditure

Eligible expenditure (including

• verseas)
• % on core activities and supporting

activities

• Expenditure categories

There is an expenditure cap of $120M in an income year.

The next section covers eligible project expenditure including any eligible

• verseas expenditure

First work out the split between core and supporting activities and record the percentages of each. In our example 60% on core activities and 40% on supporting activities. There is a cap on eligible expenditure of $120 million in an income year, unless you have obtained approval to exceed the cap. In the Employee related costs for this project field include the amounts for employees who are eligible to the extent they relate to performing R&D. This includes:

• salary and wages
• bonuses
• employee share schemes
• employee recruitment and relocation costs
• overtime
• holiday pay
• long-service pay
• and superannuation contributions

It does not include the cost of contractors you engage to perform the R&D as those have their own

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category. When you engage a contractor to perform R&D on your behalf, you may only claim eligible expenditure and should put this amount into the R&D contractor payments box. Any amount claimed must be reduced by any expenditure incurred by the contractor in relation to ineligible activity. Materials, consumables and overheads are eligible expenditure costs apportioned to your project. An approved research provider is a research provider approved by Inland Revenue. They provide R&D services under contract to businesses in New Zealand. A tax credit is only available on expenditure of $50,000 or more, unless you use an approved research provider. You can find a list of approved research providers on our website, key word search ARP. Depreciation on assets used in performing R&D is eligible for the tax credit. The calculation is based

• n the proportion of time the asset is used for R&D as a percentage of total use. Availability for use

does not factor into the calculation. Good examples can be found in the our guidance material on our website In the any other expenditure box Include any other eligible expenditure that is not covered in the

• ther categories.

The combined totals will give you the total eligible expenditure for this project which will later be used to calculate your R&D tax credit.

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Breakdown of expenditure

Complete the fields for:

• Expenditure incurred in the course of

commercial production

• producing products or services

for sale

• time and location
• Expenditure on internal software

development

• Eligible feedstock expenditure
• for the extra costs associated

with R&D

• Eligible overseas R&D expenditure
• activity performed outside NZ
• services performed by non-

residents in NZ Also refer to our guidance material go to www.ird.govt.nz keyword search IR1240

The next section further breaks down the expenditure from the previous slides - note this is a further breakdown not additional expenditure .

The first field is Expenditure incurred in course of commercial production If you perform your R&D in conjunction with a commercial activity, that R&D will have been performed “in the course of commercial production” “In the course of” refers to time and location. “Commercial production” means producing products or services for sale. Where an R&D activity is performed in the course of commercial production, the amount you can claim is limited to both the:

• Expenditure in relation to your employee's contribution to the R&D; and
• Additional expenditure you incur because of the R&D.

Examples of a commercial production environment include:

• R&D performed on a production line that at the same time was producing

products for sale

• R&D performed as part of the process of designing, developing or building

something where there is a contract in place for the result or it is for sale. Commercial production can be a complicated area so please refer to our guidance

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material online for more detail The next field is Expenditure on internal software development. Software development for the purpose of internal administration of a business is ineligible and therefore is excluded from eligible expenditure for the (R&D) tax credit. Software development which enhances non-digital services to your customers however is eligible. It is subject to a $25 million cap. Software developed for the main purpose of sale or as an integral part of goods that are sold (external software development), is not subject to the $25 million cap. The third field is Eligible feedstock expenditure. For items used in, processed, or transformed as part of your R&D activities, only the net expenditure is eligible. What this means is the cost of inputs which are recouped through the value of the

• utput are ineligible. The feedstock rule ensures a business only gets a tax credit

for the extra costs associated with their R&D. Again please refer to our online guide for a more detailed description.

The final field is eligible overseas expenditure. To calculate the “Eligible overseas R&D expenditure for this project” you will use the “ total eligible R&D expenditure” from the previous slide as a starting point. Expenditure on an R&D activity conducted outside New Zealand is generally ineligible, however there are some circumstances where the expenditure is eligible The eligible expenditure is made up of both:

• expenditure on overseas activities incurred on an R&D activity performed outside

New Zealand, that is integral to a core R&D activity conducted inside New Zealand and

• salary and wage payments and payments for services to non-residents performing

R&D inside New Zealand. This is considered to be overseas expenditure even though it is performed here in NZ. The eligible expenditure will be the lesser of:

• your actual expenditure incurred on the activity overseas, or
• 10% of your total eligible expenditure.

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Note that the 10% cap does not apply to materials or depreciation on equipment imported to New Zealand to be used in R&D conducted in New Zealand. So exclude these amounts from the calculation. When putting the amount into the “eligible overseas R&D expenditure field” ignore the cap and put include the full amount of eligible expenditure – the cap will be automatically applied in the calculation as seen on our next slide. Your activity and expenditure records must clearly identify where services were provided outside of New Zealand. 9

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Total expenditure

Your expenditure will look like this when completed.

This slide shows an example of how your expenditure will look when completed.

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Core Activities

Every project or application must include at least one core activity.

• Add core activity and complete the

required fields.

• Give it a title.
• Describe your core activity.

A core R&D activity:

• is carried out with the purpose of

creating new knowledge, or new or improved processes, services or goods; and

• uses a systematic approach, which

has the purpose of resolving scientific

• r technological uncertainty.

Let’s now look at. core activities. Every project or application must include at least one core activity. Click on Add core activity and complete the required fields. In this section you will provide the scientific or technological uncertainty, the systematic approach taken and how the activity intends to create new knowledge,

• r new or improved goods or services.

For the Title try to describe your activity in 5 words. Use something that is both meaningful to yourself and descriptive enough that our technical experts can easily see what you will be doing in the activity. When you describe your core activity detail at a high level how the activity intends to create new knowledge, or new or improved goods or services. What are you planning to do? Describe the tests, experimentation, and what you are trying to achieve with this activity. What is the uncertainty that the activity is intending to resolve? Remember that this application will be assessed from a technical and scientific standpoint, so please complete this description with technical terminology and perspective.

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Ensure you relate each activity to the correct project. Provide the technical details about the start and the end of the activity A core R&D activity begins when you have a testable proposition to overcome your scientific or technological uncertainty and ends when work to measure or evaluate the results of your work to overcome the uncertainty ceases. Eligible R&D in digital applications can include the design, development and testing activities directly required to resolve the uncertainty. You can add as many core activities as you need to.

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Core Activities

Describe:

• the scientific or technological

uncertainty that your core activity is resolving

• the systematic approach you took

conducting the core activity

• how your core activity intends to

create either new knowledge or new

• r improved processes, services or

goods ‘Scientific or technological uncertainty’ means the solution is not publicly available, or something that a competent professional will need to undertake an investigative process to try and identify a solution.

Next Describe the scientific or technological uncertainty that your core activity has a material purpose of resolving. Scientific or technological uncertainty exists if the knowledge required to resolve the uncertainty is both:

• not publicly available and
• unable to be worked out by a competent professional in that field, without

undertaking a systematic process to generate new knowledge or test a possible solution. In this section provide specific details on the technical and scientific problem that you were, or are, still seeking to resolve. Focus just on the activity. We need technical information on how you are going to try and resolve the uncertainty. Describe:

• The different components that you developed (is there more than one core

activity).

• What publicly available information there was regarding the topic.
• Whether you developed a prototype or conducted new experiments.

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Please avoid using open comments such as “The outcome is uncertain”. Instead, to back up your answers, gather information around them as evidence. This will be really important detail to help us make an assessment. Next Describe the systematic approach you took conducting the core activity. A systematic approach is a methodical (organised and planned) approach to formulate and test a possible solution or solutions to the uncertainty. How this looks will be different in different sectors. so

• Provide the method you used to conduct your experiments in a systematic

way.

• Name any methodologies or scientific approaches you used..
• How did you record your data? If you analysed the data, did you feed it back

into a new development cycle?

• How did you monitor your experiment?
• If you used software to record and monitor your experiment, please provide

details that is was it JIRA, Excel, Microsoft Project etc? You should hold records should we require further information. Finally Describe how your core activity intends to create either new knowledge or new or improved processes, services or goods. Describe how your product, process or service is either creating new or improved knowledge and how it differs from existing knowledge. Please provide the technical details. Advise of any Freedom to Operate (FTO) searches and any evidence you may have that your activity is world first, patents obtained or pending, journal searches, literature & internet research. For example, based on the FTO searches:

• Is there something similar on the market to what you’re trying to achieve?
• How is what you are trying to do different than what is already out there?
• What makes it unique?

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Supporting R&D Activities

Add a supporting activity

• Click on Add supporting activity

Let’s now move on to supporting activities. You can add as many supporting activities as are required by selecting add supporting activity 13

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Supporting R&D Activities

Describe your supporting activity

• To qualify supporting R&D activity

must:

• support the core R&D activity as

its only or main purpose, and

• be required for, and integral to,

the core R&D activity, and

• not be on the schedule of

excluded supporting research and development (R&D) activities (see

• ur guidance.)
• You must link your supporting activity

to a core activity Please refer to our guidance material go to www.ird.govt.nz keyword search IR1240

In the description field you will describe how your supporting activity supports your core R&D activity If you have core R&D activity there may be related activities which, although they do not meet the definition of a core R&D activity are directly related to it and required for the conduct of the core R&D activity. Supporting activities can take place before, during or after the relevant core R&D. The key points here are that to qualify for the tax credit, a supporting R&D activity must both:

• support the core R&D activity as its only or main purpose and
• be required for and integral to the core R&D activity.

The supporting R&D activity(s) cannot be on the schedule of excluded supporting (R&D) activities Activities which could qualify as supporting include:

• literature searches to determine if there is an existing solution
• work undertaken to formulate your idea, proposition or hypothesis, so that it

can be tested

• planning a series of tests, prototypes, or the necessary analysis or
• writing specialised software to monitor R&D results

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Ensure you Link the supporting activity to the associated core activity or activities it relates to. More information on all this can be found in our guidance material online

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Joint ventures, partnerships and look through companies

Joint ventures/partnerships Complete these fields if you had previously indicated that the project was completed by you as a:

• partner in a partnership
• joint venture partner, or
• look through company.

The next section covers joint ventures and partnerships. If you had previously indicated that the project was completed by you as a partner in a partnership or a Joint Venture please complete this section to tell us about your partners. Remember if you are the owner of a look through company you will have answered yes to the partnership question previously.

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Associated persons

Associated Persons Indicate if you are associated with people who are also claiming R&D tax credits Please also refer to our guidance material IR 1240 or IR620 (Associated Persons) for more information. Go to www.ird.govt.nz keyword search IR1240 or IR620

This question concerns your connection to associated persons. There are specific rules about who are associated persons and how transactions between associated persons are treated for tax purposes. Generally, the associated persons rules are designed to ensure that a transaction between related parties is afforded the same tax treatment as if the transaction was conducted between arm's length parties. See our guidance material online and for more detail about associated persons refer to the IR620 which can also be found online.

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Refundability

Refundability There are now two refundability

• ptions available to eligible R&D

applicants:

• The broader refundability rules

which have been brought forward from the 2020-2021 year;

• The limited refundability rules

which were already in place Industry levy bodies that have eligible R&D expenditure can now claim a credit of 15%.

We said at the beginning we would discuss the refundability options. We now have two refundability options available to eligible R&D applicants:

• The broader refundability rules which have been brought forward from the

2020-2021 year and

• The limited refundability rules which were already in place, and which

Businesses can still access, if they prefer these, in the first year of the scheme. After you enrol for the Incentive, you will need to file your income tax return and R&D supplementary return with Inland Revenue. Let’s look at what‘s new and give you a little more detail about the new rules. So What’s changed? The broader refundability rules, which had been intended to apply for the 2020-2021 year now apply from the beginning of the scheme, that is the 2019-20 income year. What are the broader refundability rules?

• If you’re in a tax loss position or don’t have enough income tax to pay to use

all your R&D tax credits, you may be eligible for refundable R&D tax credits. If you’re eligible for refundability, you can receive R&D tax credit refunds up to a cap based on labour-related taxes.

• The refundability cap does not apply to claims made by Industry levy bodies or

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to eligible expenditure on approved research providers. How does this compare with the previous rules?

• The limited refundability rules had very specific requirements which meant that

for the most part, only small, R&D intensive companies would be eligible for refundability in the 2019-20 income year. The previous rules also placed a $255,000 cap on the amount of credits that could be refunded to a business.

• Some businesses may prefer to apply the previous limited refundability rules.

In recognition of this, businesses can opt to apply the limited refundability rules (instead of the broader refundability rules), but only in the first year of the Incentive.

• We have more detail about the limited refundability rules in a later part of this

webinar. Another new development is that Industry levy bodies that have eligible R&D expenditure can now claim a credit of 15%.

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Broader refundability cap explained

Calculating the refundability cap The formula for calculating the refundability cap is:

• wn tax + other wholly-owned tax +
• ther controller tax = refundability

cap. There are two exceptions. The cap does not restrict refunds for either:

• eligible expenditure on approved

research providers, or

• claims made by Levy Bodies

Let’s look more closely at the refundability cap:

• The cap includes PAYE, ESCT (employer superannuation contribution tax), and

FBT (fringe benefit tax) that you have paid for the relevant income year.

• It can also include amounts paid by other companies, if those companies

control your business or are in the same wholly-owned corporate group.

• The refundability cap grouping rules, allow certain companies to allocate

labour-related taxes they have paid to other companies they control or that sit within the same wholly-owned group.

• Please note that an amount of tax paid can only be included in one person’s

cap (double dipping isn’t permitted). The formula for calculating the refundability cap is:

• wn tax + other wholly-owned tax + other controller tax = refundability cap.
• Own tax refers to the labour-related taxes paid by a claimant for the relevant

tax year.

• Other wholly-owned tax is the total labour-related taxes allocated to the

claimant that have been paid by a member of the claimant’s wholly-owned group for the relevant tax year.

• Other controller tax is the total labour-related taxes allocated to the claimant

that have been paid by a company that directly or indirectly controls the claimant for the relevant tax year.

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There are two exceptions to the refundability cap. The cap does not restrict refunds for either:

• eligible expenditure on approved research providers, or
• claims made by Levy Bodies

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Refundability – Levy bodies

Levy Body A - 31 March 2020-21 Eligible R&D expenditure $1 million x 15% R&D tax credits claimed $150,000 Income tax liability $0 R&D tax credits refunded $150,000 Example: Levy Body A (LBA) is an industry

• rganisation to which levies are

payable under the Commodity Levies Act 1990. LBA receives a full refund of its $150,000 R&D tax credits, because the refundability cap does not apply to levy body researchers.

Let’s look at an example of a claim made by a Levy Body. Levy Body A (LBA) is an industry organisation to which levies are payable under the Commodity Levies Act 1990. LBA incurred $1 million of eligible R&D expenditure this year. It has no income tax liability and pays $50,000 of labour-related taxes for the year. LBA receives a full refund of its $150,000 R&D tax credits, because the refundability cap does not apply to levy body researchers.

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Refundability – Approved Research Providers

In this example the ARP credits of $11,250 are fully refundable. Other credits are refundable up to the cap of $25,000, with the balance of $8,750 being non-refundable.

In this example of an Approved Research Provider, credits of $11,250 are fully refundable and other credits are refundable up to the cap of $25,000, with the balance of $8,750 being non-refundable.

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Broader refundability method

This slide shows how to select the broader refundability method.

On this slide you can see how to select the broader refundability method.

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Broader refundability example

This is an example of how your credit is calculated using the broader refundability method. The bottom to fields show any amounts that are refundable and non- refundable.

This slide shows how your credit is calculated using the broader refundability method. The bottom two fields show any amounts that are refundable and non-refundable.

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Refundability rules – other

Other wholly owned companies: If you have been allocated payroll tax credits from an associated company please record the amounts here. Other Controller tax: If you have been allocated payroll tax credits from an entity that controls you please record the amounts here. These amounts must balance with credit cap calculation fields.

Please complete these fields if you claimed an ‘other wholly owned’ or ‘other controller’ tax amount in the credit cap calculation fields. If you have been allocated payroll tax credits from an associated company please record the amounts in the other wholly owned companies box. These amounts match the credit cap calculation fields for other wholly owned companies (as seen on the previous slide). If you have been allocated payroll tax credits from an entity that controls you, please record the amounts in the other controller tax box. These amounts match the credit cap calculation fields for other Controller tax (also on the previous slide).

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You must spend a minimum of $50,000 of eligible expenditure in an income year – unless you are using an Approved Research Provider. You must record the name and IRD number of the Approved Research Provider you have used. The IRD number can be found on your GST invoice issued by the Approved Research Provider.

Approved Research Providers

If your expenditure is under $50,000 the Performers of approved research box will be displayed. If your total eligible expenditure is under $50,000, you will only be able to claim your eligible expenditure in relation to an approved research provider performing R&D on your behalf. Approved research providers are research providers that have been approved by

• us. They provide R&D services under contract to other businesses.

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Limited Refundability method

In year 1 (2019-2020 income year) a company may be able to get an R&D credit refund of up to $255,000.

In year 1 (the 2019-20 income year), a company may be able to get an R&D tax credit refund of up to $255,000 (which is equal to $1.7 million of eligible R&D expenditure) if:

• They are in a tax loss position, or are in a tax paying position but have surplus

R&D tax credits and

• They have no outstanding tax to pay and they satisfy the R&D tax loss cash-
• ut corporate eligibility and wage intensity criteria and
• They do not derive exempt income and are not associated with anyone who

derives exempt income.

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Limited Refundability method

In this example, the company has met the 20% wage intensity test and has refundable R&D credits of $90,000.

In this example the company has met the 20% wage intensity test and has refundable R&D credits of $90,000

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Total refundable and non-refundable credits

The total amount of your refundable and non-refundable credits are shown, depending on the refundability method chosen.

This slide shows the amount of refundable and non-refundable credits that you have claimed, depending on the refundability method chosen.

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Attachments

You can now include attachments in this part of the form. Click on the “upload supporting documents” button.

You are now able to attach documents. Click on the “upload supporting documents” button as shown on this slide.

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Evaluation

Evaluation questions are included in the R&D supplementary return. These will help the Minister of Research, Science and Innovation evaluate the R&D tax credit regime every 5 years.

The Minister of Research, Science and Innovation is required to conduct an independent and objective evaluation of the R&D tax credit regime every 5 years and report the results to Parliament. To help the Minister perform their evaluation requirements, evaluation questions are included in the R&D supplementary return. The Minister's report must evaluate the tax credit on:

• a. the delivery of the policy intent of the regime.
• b. the stimulation of spending on research and development activities.
• c. the compliance costs of the regime.
• d. the administration of the regime.
• e. the compliance with the legal requirements of the regime by taxpayers.
• f. any other criteria specified by the Minister of Research, Science and Innovation.

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In summary

• First prepare for filling in the application; breaking the

project down into activities

• Determine how you will demonstrate the eligibility of the

activities

• Fill in the project detail, providing information at a high

level

• Add core activities and provide the detailed explanations

and evidence needed to show eligibility

• Finally, add the supporting activities and link them to the

core activities

We have now come to the end of the webinar. Let’s summarise what we have covered today:

• First prepare yourself for filling in the application by breaking the project down

into activities and determining how you will demonstrate their eligibility.

• Fill in the project detail, providing information at a high level
• Add core activities and provide the detailed explanations and evidence needed

to show eligibility

• Finally, add the supporting activities and link them to the core activities

We hope this webinar has added to your understanding of the information needed to complete the return.

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More Information

For more information please refer to:

• Research and Development Tax Incentive:

Guidance on Inland Revenue’s website www.ird.govt.nz keyword IR1240

• Visit the RDTI website on www.rdti.govt.nz
• If you need further help, please contact us using

the contact form on the RDTI website www.rdti.govt.nz

Finally more information can be found online. If you need further help, contact us using the contact form on the website listed

• nscreen.

Thank you and Ka Kite

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THANK YOU FOR WATCHING

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