Hello Aotearoa!

What is the R&D tax incentive?

Since 2019, the NZ Government incentivises businesses to conduct R&D through its Research and Development Tax Incentive. This program offers tax offsets equal to 15% of your R&D expenses. This is in addition to the 28% R&D cost ‘cash-out’ for loss-making businesses, meaning up to 43% is available to you.

The offsets are accessed by making an application that describes your R&D project and activities, then reporting your R&D expenditure in your tax return. The program is complex and there are flaming hoops to jump through. We are here to help work through it with you!

Can I get it?

Most private-sector businesses conducting R&D in New Zealand should be able to access the tax incentive. The main requirements are:

• Have a New Zealand presence
• R&D performed in New Zealand (even by a contractor)
• Own the results (or be able to use them without extra cost)

We can help you determine your eligibility.

How we can help!

How Can BlueRock’s R&D Consultants Help You Access the Tax Incentive?

• In-depth consultation to discuss your eligibility for the R&D tax incentive
• Regular catchups throughout the year to review your R&D activities and expenses
• Writing your application and preparing supporting documents
• Reviewing your accounts and R&D expenses to calculate annual R&D expenditure
• Training key staff on R&D eligibility and recordkeeping processes
• Submitting your application and liaising with the regulators

What is the New to R&D Grant?

The NZ Government now offers funding and support to local innovators for new research and development projects. Funding of up to $400,000 is available. This includes:

• up to $200,000 that funds 20% of your proposed R&D project
• up to $200,000 to develop your internal R&D capacity

Applications are welcome anytime but you can only apply once. We will help you put your best foot forward!

Can I get it?

Most NZ-based private sector businesses should be eligible. The main requirements are:

• Be able to fund the remaining 80% of your project
• Not have other recent government R&D funding
• Not have over $50,000 R&D costs recently
• Not have existing R&D capability within your corporate group

How We Can Help

How Can BlueRock’s Grants Consultants Help You with the New to R&D Grant?

• Discussing your R&D plans and needs
• Establishing the best funding strategy
• Advising how best to structure your project for the application
• Writing a well-crafted grant application
• Facilitating a smooth and straightforward application process

What business grants are available?

Regardless of your industry or size, you might qualify for a grant or other government business funding. Government business grants are a generous source of funding provided to businesses without giving away equity or borrowing big bucks. Business grants and funding could support you with cash payments, reimbursements, matched funding or low-cost loans.

These grants commonly support new projects in these areas and more:

• Agriculture
• Arts and Media
• Charity
• Defence
• Environmental Improvements and Sustainability
• Exporting and Trade
• Health
• Innovation and Technology
• Job Creation
• Manufacturing
• Not-For-Profit and Social Enterprise
• Regional Growth
• Solar Energy
• Tourism
• Training and Education
• Volunteering and Community Service
• Infrastructure

How Do I Apply For a Business Grant?

1. Thoroughly read the grant requirements and eligibility criteria
2. Check the grant deadlines
3. Look for case studies and past recipients of the grant
4. Take the time to understand why the grant is being offered – what are the goals of the funding?
5. Consider your time investment and the opportunity cost – there are no free lunches
6. Clearly outline projects and milestones – most funding is project-based
7. Draft project budgets
8. Write up and submit your grant application

Whether you’ve seen a specific government business grant you’d like to explore or you’re just starting out finding what’s available, contact BlueRock’s grant specialists for a chat.

How We Can Help

• Discussing what best-matched funding is available and when
• Expertise and experience crafting successful grant applications
• Facilitating a smooth and straightforward grant application process
• We have a high success rate with over $100m in funding allocated
  

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How can we help?

Our Australian offices with over 300 staff are leading advisors in business and personal success. We have substantial experience helping businesses access or trade in Australia. Your kiwi business can take advantage of our expert, local capabilities in:

• Exporting to Australia
• Establishing an Australian presence and local trading
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• And more!