Australia’s R&D tax incentive program is dually administered by two government agencies:
In the May 2021 budget the government announced that the Board of Taxation would undertake a review to evaluate the dual-agency administration model for the R&D tax incentive. The purpose of the review is set out in the Terms of Reference published on the board’s website, and includes:
We further note that in our experience, we have not experienced major incidence of problems that could be presented by a dual agency model, such as:
Swanson Reed’s contribution to any review will call for maintenance of stability in the program.