[20 April/Otago Daily Times]

An R&D tax incentive discussion document was released yesterday by Research, Science and Innovation Minister, Megan Woods. ManufacturingNZ Executive Director, Catherine Beard, said the tax incentive proposals were a positive step towards a higher innovation economy. She added the proposal could go a long way towards increasing company level investment in innovation. Polson Higgs Tax Partner, Michael Turner, hoped the scheme would last longer than the previous one that only lasted one year. There were mixed feelings from various agencies such as the Treasury. Finance Minister, Grant Robertson, emphasised how important increasing R&D spending was to New Zealand’s economic future. He noted that the devil would be in the detail. Crowe Horwath Tax Managing Partner, Scott Mason, said there was possibly evidence the package had been rushed. The need to take a careful approach when establishing tax incentives was stressed.