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R&D Tax Credit
Economics Legislation Committee recommends deferral of proposed changes to R&D
February 11th, 2019The Senate Economics Legislation Committee has today handed down their recommendation on proposed changes to the R&D Tax Incentive which have followed recent consultations with the industry. The committee which is made up of members from varying sides of politics has recommended the Senate “defer consideration” of the bill until “further examination and analysis of the impact is undertaken”. Given that there are only a limited number of parliamentary sitting days until the next federal election, this outcome means the […]
Opposition Policy on R&D Tax Incentive
January 17th, 2019With a federal election due over the coming months, the opposition labor party have made some announcements with respect to their policy on the R&D Tax incentive. The original R&D tax incentive legislation was enacted whilst the labor was in power. Labor have committed to maintain the R&D tax incentive as the primary lever to induce business R&D. Labor have indicated they would look to incorporate the collaboration premium within the R&D tax incentive for expenditure on activities undertaken in […]
StartupAUS Calls for Clearer Support for Software R&D Activities
December 6th, 2018StartupAUS, Australia’s national startup advocacy group has released a report titled Crossroads – Fifth Anniversary edition. Data from the company has found that almost 90 percent of startups rate the R&D tax incentive as “very important” or “critical” to their business’s success. Within the report, they have called for greater assurance for software companies accessing the R&D Tax Incentive, and put forward proposals including: A moratorium on audits for software claims; A legislative amendment to the R&D Tax Incentive, or […]
R&D Tax Incentive Crackdown For Software Claims
December 4th, 2018Reports have emerged in the media recently of software development companies that have been subject to adverse R&D Tax Compliance proceedings: Airtasker hit by R&D incentive tax crackdown that threatens tech firms Whilst the benefits available under the R&D Tax Incentive are significant, these reports affirm the need to ensure R&D claims are completed with diligence, and in accordance with the current reporting expectations. Recent publications from ATO and AusIndustry on software development activities have highlighted current regulatory compliance focuses, […]
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News & Research
News & Research
News & ResearchEconomics Legislation Committee recommends deferral of proposed changes to R&D
The Senate Economics Legislation Committee has today handed down their recommendation on proposed changes to the R&D Tax Incentive which have followed recent consultations with the industry. The committee which is made up of members from varying sides of politics […]
Senate Economics Committee Review Into Proposed R&D Tax Incentive Changes
The Senate Economics Legislation Committee conducted a public hearing in Melbourne on 30 January which heard submissions from various stakeholders including: Cochlear Ltd; Brickworks Ltd; CSL; Dulux Group; The AFR has reported that representatives from these groups have consistently argued […]
