We are proud to announce that Lincoln Agritech (LAL) is one of the approved research providers for the Research and Development Tax Incentive (RDTI). Please contact Sophie Rebbeck, Business Development & Marketing Group Manager at LAL, to discover more about our research capabilities.
The New Zealand government introduced a RDTI last year to grow New Zealand’s knowledge economy. The RDTI will give businesses a 15% tax credit if they spend a minimum of $50,000 per year on eligible R&D. Businesses who spend under $50,000 may still be eligible, so long as the R&D is carried out by an approved research provider.
The Government recently passed some changes to the RDTI rules under urgency to provide extra cash support to R&D performing businesses, to help support them through the disruption caused by COVID-19 and beyond.
New policy changes allow more loss-making businesses to have this R&D tax credit refunded in cash. These broader refundability rules are backdated to the beginning of the RDTI scheme (the 2019/2020 income year) to help put much-needed cash back into R&D-performing businesses that are making losses.
More information about RDTI can be found at MBIE and RDTI NZ.