Swanson Reed’s initial analysis of the R&D announcements in May 2026 are summarised here. After we considered these proposed changes in greater detail, we are particularly alarmed about a proposed change announced in the Budget to the R&D Tax Incentive that we feel has not been communicated well nor understood by those whom it may impact… We fear the announced proposal to limit access to the Refundable R&D Tax Offset to firms operating less than ten years will be determined based on an […]
Leading up to the May 2026 Federal Budget there were reports of modest changes likely to be made to the R&D Tax Incentive (mainly around increases to expenditure thresholds) however there was not expected to be any major reforms announced given that: The Government had only recently (in March 2026) received the final report from The Strategic Examination of R&D; It was anticipated that The Government would conduct consultation before proposing any major changes to th R&D Tax Incentive. Surprisingly, in the […]
The 2026–27 Australian Federal Budget will be delivered by Treasurer Jim Chalmers on Tuesday, 12 May 2026. The AFR has reported today that: Treasurer Jim Chalmers is expected to raise the current $150 million cap on R&D expenses that can be claimed, in a move that will immediately help tech giant Atlassian and hearing device maker Cochlear, but is also aimed at making Australia a more internationally competitive investment destination. A review of the R&D and innovation system led […]