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Income Tax Act 2007

Tax credits and other credits - Research and development tax credits

LY 10: Evaluation

You could also call this:

"Checking how well the research and development tax credit is working"

Illustration for Income Tax Act 2007

The Minister of Science, Innovation, and Technology will write a report about the research and development tax credit regime. You will see this report every 5 years, starting after the 2023-24 tax year. The report will look at how well the regime is working. The Minister will check if the regime is doing what it is meant to do. You will see the Minister look at how much people are spending on research and development activities. The Minister will also check how much it costs people to follow the rules of the regime. The Minister will look at how the regime is being run and if people are following the rules. The Minister can also look at other things they think are important. You can find more information about the Taxation (Research and Development Tax Credits) Act 2019 on the New Zealand legislation website https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS110287

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS199261.

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Part LTax credits and other credits
Research and development tax credits

LY 10Evaluation

  1. The Minister of Science, Innovation, and Technology will lay a report before the House of Representatives as soon as practicable after the end of the 2023–24 tax year, and every 5 years subsequent, objectively and independently evaluating the research and development tax credit regime in terms of all of the following:

  2. the delivery of the policy intent of the regime:
    1. the stimulation of spending on research and development activities:
      1. the compliance costs of the regime:
        1. the administration of the regime:
          1. the compliance with the legal requirements of the regime by taxpayers:
            1. any other criteria specified by the Minister of Science, Innovation, and Technology.

              Notes
              • Section LY 10: inserted, on , by section 10 (and see section 3 for application) of the Taxation (Research and Development Tax Credits) Act 2019 (2019 No 15).
              • Section LY 10: amended (with effect on 27 November 2023), on , by section 109 of the Taxation (Annual Rates for 2024–25, Emergency Response, and Remedial Measures) Act 2025 (2025 No 9).
              • Section LY 10(f): amended (with effect on 27 November 2023), on , by section 109 of the Taxation (Annual Rates for 2024–25, Emergency Response, and Remedial Measures) Act 2025 (2025 No 9).
              • Section LY 10 list of defined terms research and development activities: repealed (with effect on 1 April 2019), on , by section 133(a) of the Taxation (Annual Rates for 2021–22, GST, and Remedial Matters) Act 2022 (2022 No 10).
              • Section LY 10 list of defined terms research and development activity: inserted (with effect on 1 April 2019), on , by section 133(a) of the Taxation (Annual Rates for 2021–22, GST, and Remedial Matters) Act 2022 (2022 No 10).
              • Section LY 10 list of defined terms research and development tax credit: inserted (with effect on 1 April 2019), on , by section 133(b) of the Taxation (Annual Rates for 2021–22, GST, and Remedial Matters) Act 2022 (2022 No 10).
              • Section LY 10 list of defined terms research and development tax credits: repealed (with effect on 1 April 2019), on , by section 133(b) of the Taxation (Annual Rates for 2021–22, GST, and Remedial Matters) Act 2022 (2022 No 10).