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Government Policy and Treasury

R&D Tax Incentive Changes Announced in 2018-19 Budget

May 9th, 2018

In response to the recommendations in the ‘2016 Review of the R&D Tax incentive’ the government has announced proposed R&D Tax Incentive changes within the 2018-19 Federal Budget released yesterday, 8 May 2018. The changes take on board some recommendations from ISA’s previous review of the programme, along with some of the government’s own savings and integrity measures. The R&D Tax Offset rate will change, commencing for years on or after 1 July 2018. For companies claiming the refundable offset with […]

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Proposed R&D Cap Could Hamper Aussie Innovation

May 4th, 2018

With changes to the R&D tax incentive to be announced in next week’s budget, entrepreneurs are hoping that the proposed $2 million cap on annual R&D spend will not go ahead. Treasurer Scott Morrison said the incentive was “Not about writing blank cheques to everyone that has a good idea,” but Aussie startups, who are heavily dependent on the tax credit, believe that the move could curb innovation and have negative long-term effects.  Many believe that the proposed changes will penalise […]

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Innovation Is Still On The Government’s Agenda

February 27th, 2018

The Turnbull government’s “ideas boom” was not a hit with voters, with disruption being seen as either unrelatable or frightening by many. However, in a February 2018 interview with the Australian Financial Review, Michaelia Cash, Minister for Innovation and Jobs, advised that innovation was still an important part of the government’s agenda. Cash has been reassuring Australians that innovation and new technology have indeed been shown to create jobs, rather than reduce them. Senator Cash said that the majority of […]

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Cost Of The R&D Incentive Decreasing in 2017-18

December 18th, 2017

The Mid-Year Economic and Fiscal Outlook Report for 2017-18 has been released, outlining and explaining major changes in payment estimates relating to policy decisions and other factors. Since the last Budget, total cash payments have decreased by $3.4 billion and $8.8 billion over the four years to 2020-21 for parameter and other variations. Included in this category is the cost of the R&D Tax Incentive program, which is coming in less than expected for the 2017-18 year. Cash payments are […]

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