Legislation and Parliamentary Matters

Senate Committee Review Into Proposed R&D Reforms Due Soon, As Opposition Calls For Bolstering Of R&D Tax Incentive

June 26th, 2020

InnovationAus has reported this week that the Senate Economics Legislation Committee review into proposed R&D tax incentive reform is reportedly set to re-open, and a meeting could occur in early July. 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 […]

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R&D Tax Incentive Reform Still On Government Agenda, Despite Focus On Enhancing Local Manufacturing

May 22nd, 2020

Industry Minister Karen Andrews addressed the National Press Club during the week to outline Government plans for industry policy in the wake of the COVID-19 situation. Points from the speech include the following: Ms Andrews said the Coronavirus pandemic had exposed gaps in Australia’s manufacturing capacity, and there would be “significant changes” once the crisis abated; The government would look to build on its “comparative strengths” in mining and agriculture and find ways to “value-add” on raw materials previously marked […]

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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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