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Home > News > New era for research and development in New Zealand

April 6th, 2008

New era for research and development in New Zealand

Abstract:
Increasing the level of private research and development will become that much easier because of a Labour-led government tax credit initiative which comes into effect on 1 April, Research, Science and Technology Minister Pete Hodgson said today.

Pete Hodgson made his comments during a visit to Australo, a Dunedin nanotechnology company. Australo have developed ground-breaking nanopore technology that has a broad range of applications, including diagnosis of cancer, viruses and other diseases.

"From April 1, businesses investing in research and development can earn a 15 per cent tax credit on that spending. It is estimated that the credit will be worth $630 million for business over the next four years.

"Australo is a great example of an innovative New Zealand company, developing world-leading technology. The ability to support research and development in companies such as this is really exciting," said Pete Hodgson.

Source:
egovmonitor.com

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