Legislation and Parliamentary Matters

Senate Set To Consider Latest R&D Tax Reform Bill

January 29th, 2020

Federal parliament is scheduled to resume for the year next week. InnovationAus reported today that a “showdown” is looming on the proposed reforms to the R&D Tax Legislation. The Government had previously sought to pass R&D Tax reforms announced in the 2018 federal budget, however these were not enacted as law following concerns raised by the Senate Economics Committee, largely due to complexity of the proposed intensity threshold. The Government has reintroduced a slightly modified R&D reform bill in December […]

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Reports Industry Minister Is Considering Changes To The Administration Of The R&D Tax Incentive

September 3rd, 2019

InnovationAus.com has reported that Industry Minister Karen Andrews is investigating potential changes to the administration of the R&D Tax Incentive to give companies greater certainty about their claims. The report of potential changes has come following recent comments by Small Business Ombudsman Kate Carnell and Tax Commissioner Chris Jordan on the administration and compliance aspects of the programme. Within the article, Mrs Andrews ruled out issuing any new guidance that would change the established definitions about what constitute R&D under the […]

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Industry Leaders Call for Stability to R&D Tax Incentive as a Top Priority

June 26th, 2019

Following on from Prime Minister Scott Morrison’s calls for business to identify regulatory road blocks to investment, Industry Leaders have named proposed cuts to the R&D Tax Incentive as their key concern. An AFR article published today has reported that industry leaders consider reversing $4B in cuts over the estimate periods from the two preceding budgets as being the single most valuable lever available to the government to encourage business investment. The article had also noted industry lobby association StartupAUS’ […]

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Budget 2019: R&D Tax Incentive Programme Cost Reductions with No Specific Detail

April 3rd, 2019

The Federal Government handed down their budget on 2 April 2019 and whilst there appeared to be no specific new changes proposed to the R&D Tax Incentive, the forward estimates cost of the programme is projected to reduce by $1.35 billion. It is not clear whether this cost reduction is a product of: The legislative changes proposed in the last federal budget being introduced. These changes were recently the subject of a Senate Economics Committee review that recommended the changes […]

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