Provost Professor Giselle Byrnes.
The Inland Revenue Department – Te Tari Taake has given Massey University “approved research provider” status so that businesses may claim a 15 per cent tax refund on research and development spending with the University.
Provost Professor Giselle Byrnes says the new status is fully aligned with the University’s commitment to enterprise, innovation and continued engagement with business and industry. “It means that the University now has a particular value proposition for small businesses seeking research and development advice,” Professor Byrnes says.
“The new status of Massey as an accredited research provider by the IRD – Te Tari Taake means that there is now a dedicated tax incentive for businesses to work with us to access our excellent research and development services,” she says.
“Massey is proud of some of the success stories we’ve had to date in taking research ideas to market and this new status will further assist us in working closely with business and industry.”
She says it is particularly beneficial for start-up companies, for whom the tax credit is a real incentive to get research done.
“The status aligns with the broader objectives of Massey University under its University Strategy to grow strategic research collaborations and under its Research Strategy, to grow research income, while sustaining active relationships with key partners nationally and internationally. It also enables Massey to work more closely with New Zealand businesses to support their research needs.”
Other universities with similar status are the University of Auckland, University of Canterbury, University of Otago, University of Waikato and Lincoln University subsidiary Lincoln Agritech.
More information about the approved research provider system including the names of all organisations with that status is available online here.