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  1. #1061
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    Quote Originally Posted by iceman View Post
    I agree EZ that this was a good idea but the policy seems to be ill thought out, unless they are targeting assistance to the likes of Spark, Vodafone, Xero etc. Sadly, most of the small startups will fail 2 of the criteria, the $100,000 p.a. expenditure requirement and they need to be very profitable to gain from a tax credit. This policy sadly is a fail.
    It can't be a fail, Iceman, as it hasn't started yet. In fact the submissions have been pre-structured into 23 questions that should be answered.

    Q15 states: "Is the minimum threshold set at the right level? If 'no', please provide further details.

    Here is a link to the files. http://www.mbie.govt.nz/info-service...-tax-incentive

    Considering even the likes of farmer-funded DairyNZ can apply for this credit from taxpayers, I think it's important that smaller businesses, of which there are many tens of thousands in NZ, can also access a small credit for their true R&D activities. They shouldn't need to get to say 3-4 staff before they can afford to spend $100,000 a year on R&D. A setting like $50,000 might be more suitable as a threshold if they really want to include small businesses. The credit for that amount is $6250 off your tax bill, which starts to make it a worthwhile exercise for the business owner to do the report/claim, and it would also be a valuable source of R&D data for the govt.

    SMEs should send in submissions, there is an online or postal system for it.

    I must note that the annual threshold of $100,000 only applies if a firm carries out their own R&D. There is no threshold if they use an external "approved provider".
    Last edited by elZorro; 21-05-2018 at 05:36 PM.

  2. #1062
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    You're right EZ. Minister Woods has been interviewed on NBR and was asked many questions about the R&D policy. According to the NBR, her headline response to each was "good question but its under consultation until June 1".
    So basically yet another policy without detail and no doubt they will appoint a group to talk about it.
    Does this Government actually have any working policies other than Winston's $ 1 Billion for Diplomats, $1 Billion p.a. for Shane Jones and many millions for the racehorse industry ?
    None of Labour's big ideas seem to be happening !

  3. #1063
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    Quote Originally Posted by iceman View Post
    You're right EZ. Minister Woods has been interviewed on NBR and was asked many questions about the R&D policy. According to the NBR, her headline response to each was "good question but its under consultation until June 1".
    So basically yet another policy without detail and no doubt they will appoint a group to talk about it.
    Does this Government actually have any working policies other than Winston's $ 1 Billion for Diplomats, $1 Billion p.a. for Shane Jones and many millions for the racehorse industry ?
    None of Labour's big ideas seem to be happening !
    I think they're being cautious. The 2008 R&D tax credit was openly audited, or had the probability of being audited by IRD. I would have been one of the smaller businesses accessing the credit that year. When mine was approved, the person from the office said that only 300 businesses had applied for the credit at that stage, although they were pleasantly surprised at the range of R&D activities. Patent applications that year were higher than usual. Note that there are over 528,000 enterprises in NZ.

    Now the tax records are out and people are commenting on them (IRD, 2010). For that 2008 R&D year, $154mill was paid out in tax credits, so for those firms at the 15% rate that applied, they'd done just over $1bill of R&D. It also means the average claim was $513,000 for $3.42mill of R&D. These are not average firms, then. Since NZ's GDP is about $285Bill, and the OECD average is 2.8% of GDP spent on R&D, the tax credits were for $1Bill, when the OECD target is $8Bill. Labour's target is 2% or $5.7Bill.

    Maybe more than 300 businesses claimed. But in any case, I suspect it was mainly those already at the top of the pile who accessed most of the tax refund. Some of these would be listed companies, companies that accessed other R&D grants for other work at a higher grant rate. Stuart Nash is still reported recently, saying that the new R&D tax credit scheme will be accessible to many enterprises that would not easily fit in the existing system of R&D grants (with their high hurdles to jump).

    In the spirit of R&D tax credits for SMEs, I hope he also means the smaller end of the business sector, and that he doesn't assume those businesses are inept when it comes to doing their own moderately risky R&D.

    The government is also intending to phase out Callaghan's Growth Grants, which are for 20% of R&D work carried out by large firms in general, and put them into the 12.5% R&D tax credit area. So there will be a saving there, to help fund the R&D tax credits.

    It looks like a lot of the policy settings are up for testing with submissions, so I will find it interesting to see if there are any changes made in the final R&D policy.
    Last edited by elZorro; 23-05-2018 at 06:59 AM.

  4. #1064
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    Phil said he ‘wasn’t thinking straight’

    So what’s new, he never ‘thinks straight’ — so should be let off

    At least he’s got one less department to stuff up.

    https://www.stuff.co.nz/national/pol...viation-breach
    Last edited by winner69; 24-05-2018 at 06:18 PM.
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  5. #1065
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    Quote Originally Posted by winner69 View Post
    Phil said he ‘wasn’t thinking straight’

    So what’s new, he never ‘thinks straight’ — so should be let off

    At least he’s got one less department to stuff up.

    https://www.stuff.co.nz/national/pol...viation-breach
    Phil spotted and reported by Judith Collins? The Nats are trying everything at the moment. How they must hate being out of power.

    Lame David Bennett, the MP for Hamilton East apparently, was eventually forced to withdraw and apologise in the house today, twice. Those episodes at least kept the opposition embarrassed and quiet, for a few long seconds. Finally there's a speaker who will enforce the rules. Doesn't suit Paula Bennett of course. She's keen on the House being more "robust". She was booted out again today, also in this clip.

    https://youtu.be/MwWRUIYHO5M

    Ex-lawyer Bridges has been asked directly by the press if he has spoken to all the National MPs that may have made a sexist comment about the PM. He'd forgotten if he had or not. The names mentioned included David Bennett. I heard a radio interview once where MP David Bennett was asked about his thoughts on Helen Clark. He blustered away a bit, digging a hole until the interviewer suggested he sounded like a misogynist. He shut up pretty quickly.
    Last edited by elZorro; 24-05-2018 at 09:14 PM.

  6. #1066
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    So Judith Collins was meant to just accept the breach. Twyford should be hit with fine for the breach. And eZ, Labour are trying, very trying. That statement was pathetic, not what you normally write. Leave that for your couple of followers. It is more their level.

  7. #1067
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    Petty, disruptive, churlish , nasty behaviour by national in parliament lately. They are acting desperately.Shame 99% of kiwis dont get to see this.

  8. #1068
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    Quote Originally Posted by 777 View Post
    So Judith Collins was meant to just accept the breach. Twyford should be hit with fine for the breach. And eZ, Labour are trying, very trying. That statement was pathetic, not what you normally write. Leave that for your couple of followers. It is more their level.
    The P.M had her chance here but didn't take it. She will live to regret that.

    https://www.stuff.co.nz/national/pol...viation-breach

  9. #1069
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    Quote Originally Posted by Joshuatree View Post
    Petty, disruptive, churlish , nasty behaviour by national in parliament lately. They are acting desperately.Shame 99% of kiwis dont get to see this.
    What they arent seeing is Headmaster Mallard. Hes let the power go to his head with his "naughty boy you loose two Supplementaries" behaviour. As for him "hearing" things ("Stupid Little Girl", there are pills for that kind of thing - but you dont go to the media telling them you are hearing things.

  10. #1070
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    Quote Originally Posted by 777 View Post
    So Judith Collins was meant to just accept the breach. Twyford should be hit with fine for the breach. And eZ, Labour are trying, very trying. That statement was pathetic, not what you normally write. Leave that for your couple of followers. It is more their level.
    I didn't write anything that I don't firmly believe, or know to be true. The MP for Hamilton East was only given some smaller portfolios in the latter end of three terms in government, now he's on the opposition benches. Read into that what you will, he's not going anywhere too quickly.

    I don't know what size aircraft Twyford was on, but generally cellphone use is restricted on IFR operations (instruments) but smaller aircraft use VFR (visual). It's once a cellphone is in the air and actively using quad frequency bands to try to talk to numerous cellphone towers, that it's more risky and creating possible interference.

    https://www.pilotworkshop.com/tips/airplane_cell_phone

    It's certainly a warning to all of us that cellphones should be on flight/aircraft mode as we enter an aircraft.

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