Government Policy and Treasury

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 […]

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New Opposition Party statements on R&D Tax Policy

September 14th, 2020

Labor Innovation Spokesperson Clare O’Neil has this week spoken to InnovationAus about the Opposition’s R&D Tax Incentive Policies. The article focused particularly on the Governments’ proposed reforms to the R&D Tax Incentive, which have been widely condemned by Industry Groups and are subject to a Senate Economics Committee review. Highlights from Clare O’Neil’s interview included: “The government’s proposal represents very, very significant cuts to the RDTI. That is the very opposite of what you want to do when building for […]

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New Opposition Party Statements on R&D Tax Policy

September 10th, 2020

Labor Innovation Spokesperson Clare O’Neil has this week spoken to InnovationAus about the Opposition’s R&D Tax Incentive Policies. The article focused particularly on the Government’s proposed reforms to the R&D Tax Incentive, which have been widely condemned by Industry Groups and are subject to a Senate Economics Committee review. Highlights from Clare O’Neil’s interview included: “The government’s proposal represents very, very significant cuts to the RDTI. That is the very opposite of what you want to do when building for […]

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The Senate Inquiry into R&D Tax Incentive Reforms is Delayed for the Third Time This Year

August 27th, 2020

The Treasury Laws Amendment (Research and Development Tax Incentive) Bill 2019 (‘the Bill’) was introduced on the 5 December 2019 to reform RDTIs. Treasurer Josh Frydenberg described these reforms as “targeting and improving the integrity and sustainability of the research and development tax incentive”. The Bill’s proposed changes included a $4 million cash refund cap for small companies with an annual turnover less than $20 million. Larger companies with an annual turnover more than $20 million would have their tax […]

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