R&D grants stop companies gaming system to get tax credits, Joyce says

Wed, 29 Jun 2016

By Paul McBeth June 29 (BusinessDesk) - New Zealand's research and development grant system administered through Callaghan Innovation stops companies gaming the system by reclassifying spending to qualify for tax credits, Science and Innovation Minister Steven Joyce says. International experience shows R&D tax credits have a bigger cost to the government as firms reclassify their spending to meet qualifying criteria, something the grant system avoids, Joyce told Parliament's education and science select committee. Callaghan's systems had...

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