Monday, 14 December 2020, 2:58 pm
The New Zealand IRD has recently confirmed that Ara
Institute of Canterbury Ltd has been granted ‘approved
researcher provider’ status. This makes Ara the first ever
ITP/Te Pūkenga subsidiary to have attained this.
The
country’s recently-enacted Research and Development Tax
Incentive law incentivizes businesses to undertake R&D
by making the process considerably more affordable. The
Incentive means that they are able to obtain a 15% tax
refund on their expenditure when they work with an approved
research provider. This is especially beneficial for
businesses that spend less than $50,000 per annum and that
would tend to require the services of an R&D