http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10724282
IRD make the ridiculous justification that failed software projects do not contribute to income.
I think this is crazy, failures are part of running a business.
Surely the same argument applies to all business ideas that fail. eg, if you spend money on any type of project which fails to produce income.
Nice one IRD, you just killed the New Zealand software development industry. Certainly if I were an iphone developer I'd be going overseas.