As well as benefiting from 140 years of research experience, businesses working with Lincoln University on research and development projects may now be able to claim a 15 per cent tax refund.
Lincoln has joined several other New Zealand universities on the approved provider list with IRD for the R&D Tax Credit scheme.
The R&D Tax Incentive is intended to help more businesses innovate and contribute to a stronger, more productive economy that benefits all New Zealanders.
Lincoln University Research Management Office Director, Kevin Hurren, said Lincoln University fosters a research-intensive environment where research revenue per academic is amongst the highest of New Zealand’s universities.
“The incentive adds another benefit for businesses to come to Lincoln to utilise our long-established research expertise.
“Our research adds value across many sectors, including agribusiness, land and water, food, beverage, dairy, tourism and environmental management sectors. “
Helping the businesses and communities that are connected with the land – from agribusiness to tourism – share in the brightest possible future is behind Lincoln’s core purpose: unlocking the power of the land to enhance lives and grow the future, he said.
“Our focus is on what we do best: addressing the critical and complex problems of land, water and food to meet the demands of the market and the changing needs of society.”
Other universities with similar status are University of Auckland, University of Canterbury, University of Otago, Massey University and the University of Waikato, as well as Lincoln Agritech, a research and development company 100 per cent owned by Lincoln University.