Legislation and Parliamentary Matters

R&D tax incentive legislation :Exception for large businesses

November 15th, 2013

A new R&D tax incentive legislation of the Income Tax Assessment Act 1997,  section s355-103, will provide an exception for large business in claiming R&D tax incentive benefits. The new section will be back dated to 1 July 2013, and as of late yesterday afternoon been moved to a second reading in the lower house.   The Tax Laws Amendment (Research and Development) Bill 2013 contains the following parts: 355-103   Exception for large businesses 1)      Despite section 355-100, an * R&D entity is not entitled under […]

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