Home » News » General Information

General Information

Discussion Paper Released for Strategic Examination and Review of Australia’s R&D System

February 12th, 2025

In the May 2024 federal budget, The Albanese Government announced a strategic examination and review of Australia’s R&D system to align it with national priorities and improve outcomes. In late 2024, Industry Minister Ed Husic then announced specific details to launch the review. It was noted that the review will assess how to maximise the value of R&D investments, strengthen industry linkages, and support national priorities, and that the review will examine existing systems, such as the Research and Development Tax Incentive […]

Read More

AusIndustry update confirms applications lodged well before deadline are subject to faster processing (take action now for FY24 deadline)

February 7th, 2025

The deadline for FY24 R&D Claims (for the YE 30 June 2024) is fast approaching. In an update published in late January, AusIndustry have confirmed that leaving lodgement until close to the deadline will understandably lead to longer processing times for R&D Registrations. The update notes: We recommended lodging your application for the 2023-24 financial year now, instead of waiting until the end of April. The time of year you submit your application can impact the time it takes for […]

Read More

If R&D Tax Law is going to be changed effective 1 July, (as announced in the FY25 MYEFO), how about making these changes too?

January 30th, 2025

A surprising announcement was made by The Government in the FY25 MYEFO released in late December 2024, which took the unprecedented step of announcing an eligibility restriction to be applied to specific sectors. The MYEFO budget papers noted: The Government will exclude activities related to gambling and tobacco from Research and Development Tax Incentive eligibility for income years starting on or after 1 July 2025. Research and development activities related to gambling can exacerbate addiction and associated harms, while activities related […]

Read More

Potential Impact of Incoming US Government on Australian Business and R&D Tax Policy

January 20th, 2025

Following the US election in 2024, a new Government will be installed in the US during January 2025. The impact of the new Trump Government on US R&D and tax policy is not immediately clear, and it may impact some industries differently to others. Possible impacts may include: there will be a clear push to favor US based manufacturing via tax and tariff measures; media commentary notes that the incoming US president is expected to reduce support for research on the environment […]

Read More

Categories

Archives