Published 16th September 2019 by KnowHow.co.nz
A significant number of clients over the last two months have been reducing their staffing levels in response to a weakening and uncertain economy.
Reasons for Restructuring
● Increases in the minimum rate from $15.75 in 2017 to $17.70 at 1 April 2019
● Anticipating the minimum rate increases in 2020 and 2021 (indicative rates of $18.90 and $20 respectively)
● Relativity pressure on wages as a result of the minimum rate increases and living wage pressure
● Increased regulation resulting in business decisions to shrink overheads, maintain profitability and “wait it out”
● A move to automation
Published 16th September 2019 by RSM New Zealand Group
Make the most of the new RESEARCH & DEVELOPMENT Tax Incentive Program (R&D)
New Zealand’s recently introduced R&D Tax Incentive program offers some of the most generous
R&D funding benefits available across Asia Pacific.
This tax incentive program will play a major role over the next 10 years in lifting New Zealand business R&D spend to an ambitious 2% of GDP (up from 0.63%) by the year 2030. It will also assist in countering the phasing out of the existing Callaghan Innovation Growth Grants due to end on 31 March 2021.