Plain language law

New Zealand law explained for everyone

Income Tax Act 2007

Deductions - Expenditure specific to certain entities

DV 26: Deduction for reinstatement of R&D tax losses

You could also call this:

“You can claim a deduction for reinstating research and development tax losses”

You can get a deduction for an amount related to reinstating R&D tax losses. This amount is calculated using section MX 7(7). You can claim this deduction in the same income year that you pay the R&D repayment tax. This rule is special because it overrides the usual rules about what you can claim as a deduction.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM6766116.

Topics:
Money and consumer rights > Taxes
Previous

DV 25: Hedging of currency movements in Australian non-attributing shares and attributing FDR method interests, or

“Tax relief for protecting Australian investments against currency changes”

Next

DV 27: Employee share schemes, or

“Rules for tax deductions in employee share schemes”

Part D Deductions
Expenditure specific to certain entities

DV 26Deduction for reinstatement of R&D tax losses

  1. A person is allowed a deduction for the amount given by section MX 7(7) (Reinstatement of R&D tax losses and R&D repayment tax).

  2. The deduction is allocated to the income year in which the person incurs the expenditure of the R&D repayment tax.

  3. This section overrides the general permission and the general limitations.

Notes
  • Section DV 26: inserted (with effect on 1 April 2015 and applying for income years beginning on or after that date), on , by section 111(1) of the Taxation (Annual Rates for 2015–16, Research and Development, and Remedial Matters) Act 2016 (2016 No 1).