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Rocket Lab, now based in the United States, is one of the companies that has benefited from growth grants administered by Callaghan Innovation.
The country's main industry body, NZTech, says its members' concerns "about the impact that proposed changes to research and development incentives could have on fast-growing software companies and start-ups. "But Minister of Research, Science and Innovation Megan Woods said NZTech pointed out
Nothing was ruled out to decide how to support R & D among companies that were not still profitable, says Woods.
This potentially included the maintenance of a "growth subsidy" system for these firms, she confirmed. [19659007] READ MORE
* Businesses are studying R & D Tax Relief Against Direct Gifts
* 12.5 Cents Tax in Proposed Dollar for Research and Development
* Market Welcomes R & D Tax Credits The government has planned $ 1 billion over four years in the budget for a new tax credit system that would provide a 12.5% rebate on eligible research and development expenditures.
credits could be claimed only against the tax, they would provide no immediate help to loss-making companies, such as start-ups that could still work on marketing a product or d & # 39; A service.
NZTech said it meant
ROSA WOODS / STUFF
R Minister of Research, Science and Innovation Megan Woods says the government will help more businesses – including "for-profit" corporations – to do more R & D, but some policies will take time to develop.
The national government abandoned the R & D tax credits in 2008 in favor of a "growth grants" system administered by Callaghan Innovation, but NZTech has campaigned for subsidies to growth remain unchanged. "Although not perfect, the general opinion of companies that have followed the process and received a growth grant is that the program has worked well."
Parmjeet Parmar, NZTech's spokeswoman for research, science and innovation. A major concern "since it represented about 800 organizations in the sector.
Discussion papers published by the Ministry of Business, Innovation and Employment (MBIE) indicated that growth subsidies would be phased out., but the new grant applications will be closed in March of next year.
But they also said that an "appropriate policy" would be in place. April 2020 to encourage loss-making companies to continue investing in R & D. The government is committed to supporting "all businesses, including businesses in the tax loss". [3] 19659006] Woods said the policy would be bundled into "a bigger job" to support start-ups – which the government wanted a year ago She confirmed that it meant keeping the growth grants for loss-making companies was an option.
"If no final decision was made, anything was done. Woods pointed out that businesses could make profits and profits, but she said that she did not believe that it would be difficult to offer tax credits, along with separate incentives to support loss-making businesses.
"We are going to help between 2000 and 3000 companies a year … as opposed to the 300 companies that were helped by growth grants. "
Woods would not confirm that loss-making companies might be able to accumulate tax credits, claim taxes while they were profitable
It does not exist. is not in favor of abolishing incentives for research and development and lowering corporate taxes. "We are investing $ 1 billion in companies that want to increase their R & D because this is essential to the economic plan we have, "said Parmjeet Parmar, MP, [traduction]" title = "" src = "https://resources.stuff.co.nz/content/dam/images /1/q/w/o/l/s/image.related.StuffLandscapeSixteenByNine.620×349.1qwals.png/1532146392265.jpg "class =" photoborder "/>
CHRIS SKELTON
National MP Parmjeet Parmar says that NZTech's concerns are a big concern.
