Income Tax Act 2007
Schedule 21: Expenditure and activities related to research and development
"Money spent on finding new ways to do things or make new things for tax purposes"
The Income Tax Act 2007 has a part called the Expenditure and activities related to research and development schedule. You can find this schedule in the act, and it has its own set of rules. It is empowered by sections like LH 3(1), LH 5(3), (4), LH 7(2), and LH 8.
This schedule is about the money spent and work done on research and development. You can think of research and development as trying to find new ways to do things or make new things. The schedule helps explain what this means in the context of the Income Tax Act 2007.
The Expenditure and activities related to research and development schedule has been repealed, which means it is no longer in use.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1695100.
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Schedule 21: Excluded activities for research and development activities tax credits, or
"What activities don't qualify for research and development tax credits?"
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Schedule 21B: Expenditure or loss for research and development tax credits, or
"What you can and can't claim for research and development tax credits"