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Tax Administration Act 1994

Information, record-keeping, and returns - Returns - Research and development

70C: Statements in relation to R&D loss tax credits and R&D repayment tax

You could also call this:

"Telling the government about research and development tax credits and repayments"

Illustration for Tax Administration Act 1994

You must file a statement about your research and development loss tax credits under the Income Tax Act 2007 and your research and development repayment tax. You file this statement with the Commissioner by electronic means in a prescribed form. You must do this within 30 days after the last day for filing your income tax return for the relevant tax year. You can find the last day for filing your income tax return under section 37. You pay research and development repayment tax on the terminal tax date for the tax year. This is when the tax is due.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM6758515.

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Part 3Information, record-keeping, and returns
Returns: Research and development

70CStatements in relation to R&D loss tax credits and R&D repayment tax

  1. A person must file by electronic means, in the form and electronic format prescribed by the Commissioner, a statement in relation to—

  2. R&D loss tax credits under the Income Tax Act 2007 that they claim for a tax year:
    1. R&D repayment tax that they must pay for a tax year.

      1. The statement described in subsection (1) must be filed with the Commissioner no later than the day that is 30 days after the last day for filing a return of income for the relevant tax year under section 37.

      2. R&D repayment tax is due on the terminal tax date for the relevant tax year.

      Notes
      • Section 70C: inserted (with effect on 1 April 2015), on , by section 252 of the Taxation (Annual Rates for 2015–16, Research and Development, and Remedial Matters) Act 2016 (2016 No 1).
      • Section 70C(2): replaced (with effect on 1 April 2022), on , by section 186(2) (and see section 186(4) for application) of the Taxation (Annual Rates for 2022–23, Platform Economy, and Remedial Matters) Act 2023 (2023 No 5).
      • Section 70C(2): replaced (with effect on 1 April 2015), on , by section 186(1) (and see section 186(3) for application) of the Taxation (Annual Rates for 2022–23, Platform Economy, and Remedial Matters) Act 2023 (2023 No 5).