Legislation and Parliamentary Matters

Senate Committee Calls for Quarterly RDTI Payments

May 4th, 2021

InnovationAus has reported that a government-led Senate committee chaired by Liberal Senator Andrew Bragg has called for R&D Tax Offsets to be paid quarterly, and for a new standalone scheme for software-related claims to be considered. The report included notable quotes: “The committee is recommending that different assessment methodologies be allowed under the RDTI scheme, and that consideration also be given to a standalone scheme for software development; “The timing of RDTI payments was also raised with the committee, with […]

Read More

Australian Investment Council Proposes Relaunch of R&D Tax Incentive in May Budget

February 15th, 2021

The Government’s annual federal budget is traditionally delivered during May each year, however in 2020 it was deferred until October due to COVID. When the 2020 budget was finally handed down, it provided welcome news for the R&D Tax Incentive, since previously proposed budget cuts were replaced with alternate changes providing additional R&D tax benefits from FY22. The Government’s 2021 federal budget (potentially an election year budget) is due to be handed down in May 2021. InnovationAus has recently summarised […]

Read More

R&D Tax Budget Reforms Applauded By Australian Industry Leaders

October 12th, 2020

When the federal government announced in December 2019 that they would reintroduce their R&D Tax Reform bill with a proposed start date of July 2019 for FY20, it was met with widespread condemnation from industry leaders. The reintroduced bill was a slightly modified version of a previous reform bill, which did not pass through the Senate, and previous review by the Senate Economics Committee noted concerns around the proposed intensity threshold and refundable offset cap. A co-ordinated lobby effort then […]

Read More

AFR reports that government will back down on R&D Tax budget reforms

October 2nd, 2020

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 […]

Read More

Categories

Archives

    Email this job