Introduced on Oct 25, the bill amends the Income Tax Act and the Tax Administration Act to introduce a research and development tax credit. To be eligible for a tax credit, an eligible person must spend at least $50,000 on research and development in a year. The maximum amount of expenditure eligible is $120m, unless previously approved. The tax credit is equal to 15% of eligible expenditure. Completed reading on Nov 1 and sent to the Finance and Expenditure Committee with an April 1, 2019 report back. Only ACT opposed the Bill, but National indicated its support was conditional and only to select committee.Sent to the Finance and Expenditure Committee. Reported back on April 3 with a large number of changes around eligibility, definitions and procedures including lifting the internal software development cap from $3m to $25m. Second reading completed on April 11 with National opposed on design and cost. Committee stage completed on April 30 with govt introducing some technical changes. Third reading completed on May 2 with National remaining opposed.  Taxation (Research and Development Tax Credits) Bill