RDTI in-year payments help

RDTI tax credits are issued to participating businesses after they have filed their income tax return and their RDTI Supplementary Return has been processed. This can mean a business may not receive their credit until 12-18 months after the end of the income year during which their R&D was conducted.

The RDTI in-year payments scheme is designed to help businesses performing eligible R&D receive cash support closer to when they incur the corresponding R&D costs. This cash support is in the form of an interest-free Government loan.

The business must meet the following criteria to qualify for in-year payments:

  • The customer has applied for RDTI by having CAM, GA, or submitting their GA through Inland Revenue and
  • your business is a going concern and
  • The client has no outstanding matured RDTI in-year payments from the previous income year (not applicable to the first year).

If you have not yet submitted your GA or CAM application, you can contact Callaghan Innovation’s team, who can provide free assistance until the business’ GA/CAM submission: https://www.rdti.govt.nz/we-provide-free-tailored-support/.

RDTI in-year payments are administered by Tax Management New Zealand (TMNZ). After applying for RDTI, you can create an account to begin in-year payments. Once you have logged in and entered all of the required information to onboard, then we will collect information about your RDTI submission, conduct Anti-Money Laundering (AML) and Due Diligence (DD) checks, and seek permission to access the business’ RDTI Account

A TMNZ RDTI specialist will work with the Ministry of Business, Innovation and Employment (MBIE) to review the application. MBIE holds all decision-making authority for the scheme. Once your application has been accepted, you can request payments for any open periods.

We will announce details on how people can request payments and how loan repayments work soon.

After completing the onboarding process, you will have access to your registered organisation’s dashboard.

 

Your Organisation

You can access all the options related to an organisation by clicking on the name at the top right of the page.

Quick Link Option

You can access this content on the right-hand side of your home screen. These options provide everything you can manage with your login. You can create a new business, invite other users to access the organisation’s RDTI in-year payment content, log in as another business or begin your application.

Let’s look at these options:

— Change my Organisation

Select this option to manage in-year payments with a different organisation. Once you are on the My Organisations page, click on the organisation you want to log in as.

— Add Organisation

Simply select this option, fill in the required fields, and submit

This will take you to the next page to confirm if this is the business you want to set up. Select Yes and Complete to save the new organisation.

— Add a User

Select this option to be redirected to the My Organisations page. Select Invite User, complete the following fields and Add User.

— Updating your details

In the left-hand menu under your login email, select Update my details, make the appropriate changes, and Save User Details.

From the dashboard, you can access the application page in two ways. You can either click the Start Application menu in the quick links on your home screen or from the left menu, select In Year Payment Application

1.

The first section of the form asks you to verify that all the business details are correct. You can alter the IRD number or balance date if necessary. Here, you also have to declare that the business is a going concern.

2.

Enter all the details about your GA and/or CAM submission in the next section. Tick the appropriate option, and fill in the required information.

If you have more than one GA, select the Add General Approval to fill in the same fields for another GA under a different R&D project.

3.

Once all GA or CAM information has been entered, answer the final section to confirm who needs to sign the loan and Authority to Act, and agree to our Terms and Conditions to complete the application. Please note that all contacts must be linked to the organisation. If they have not been added, select the User Management link to invite the user and include them in the application.

Following your application, TMNZ will conduct the due diligence checks in accordance with AML legislation. We use a third party, RealAML, to carry out the checks. RealAML will contact you to collect the required information.

To enable TMNZ to become an Other Representative on the company’s RDTI account within myIR, we will send all signatories a digital Authority to Act.

Upon completing these steps, a TMNZ RDTI specialist will work with the Ministry of Business and Innovation to review the application and provide the results to the business. Once your application has been accepted, you can request payments for any open periods.

Inland Revenue and MBIE use this mechanism to confirm CAM or GA details within your application. Inland Revenue also uses this mechanism to advise TMNZ when a business has completed its supplementary return to kickstart loan repayment (See When is my loan repayable? for more information).

Before your business details can be corrected, such as entity’s legal name, you will need to update the details via the New Zealand Companies Office Register

Yes, our team has the ability to action this. Please email us at rdti@tmnz.co.nz, letting us know about your situation.

Our team has the ability to action this. Please email us at rdti@tmnz.co.nz, letting us know about your situation.

There is no cut-off for in-year payment applications. You may apply at any time and request payments once you are approved.

You will be able to request up to 3 payments per income year. Our team will notify you when the cut-off for a particular payment date is approaching.

If you miss a particular payment date/s, you will be able to include expenditure prior to that date in a subsequent payment request for the same income year.

However, it will not be possible to carry forward expenditure from a previous income year to a subsequent income year.

The loan is due on whichever date below applies to you:

If you have filed your RDTI Supplementary Return by the due date, your loan is due on the earliest of the following dates:

  • one month after IR has approved or declined your RDTI Supplementary Return, or
  • six months after the due date of your RDTI Supplementary Return.

If you have NOT filed your RDTI Supplementary Return by the due date, your loan is due one month after the due date of your RDTI Supplementary Return.

The loan is interest-free up until one month after the relevant due date above.

If the loan is not repaid by the relevant due date:

  • MBIE will charge interest on the loan from one month after the due date (at the IR “Use of Money” interest rate applicable at the time) and
  • a standardised, short-term repayment plan will be arranged.