In December 2019, the government re-introduced a bill to reform the R&D Tax Incentive. This bill was a slightly modified version of a previous reform bill (Treasury Laws Amendment (Making Sure Multinationals Pay Their Fair Share of Tax in Australia and Other Measures) Bill 2018), which did not pass through the Senate at that time. A Senate Economics Legislation Committee recommended in February 2019 that the initial bill should be deferred from consideration until further analysis of the bill’s impact […]
A reform bill proposing controversial changes to the R&D Tax Incentive for FY20 is currently being considered by the Senate. This bill is a slightly modified version of a previous reform bill (Treasury Laws Amendment (Making Sure Multinationals Pay Their Fair Share of Tax in Australia and Other Measures) Bill 2018), which did not pass through the Senate last year. A Senate Economics Legislation Committee recommended in February 2019 that this bill should be deferred from consideration until further analysis […]
Over the past week, The Australian has featured articles quoting Australia’s two leading medical technology companies, CSL and Cochlear, calling on the Australian government to deliver consistent R&D Tax incentives after four years of policy review and uncertainty. The article comes at a time when Parliament and the Senate are again considering an R&D Tax Reform bill, which was not enacted as law during a previous attempt following concerns raised by the Senate Economics Committee, largely due to complexity of […]
The Australian newspaper has highlighted a speech to the Australian Computer Society on Friday made by Liberal Senator Andrew Bragg, who is chairing a committee examining Australia’s fintech sector. The article noted that: The government is mulling a number of policy shifts to make life easier for start-ups; Senator Bragg is quoted as saying: “FinTech Australia tells us the R&D tax incentive is the number one regulatory issue for fintechs. They tell us the importance of the R&D tax incentive […]