Government Policy and Treasury

Federal Election 2019 – Impact of Result on R&D Tax Incentive

May 20th, 2019

Over the past six months, the R&D Tax Incentive became a discussion point and the major political parties have differed in their views. Labor sought to position themselves as prioritizing the R&D Tax Incentive over the coalition government, and had made specific policy announcements including: Criticising the programme’s cost reduction in the budget papers, and stating a Labor government would use the R&D Tax Incentive as a means of increasing Business Investment in R&D (BERD); A proposed introduction of a collaboration […]

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Labor Announcement on R&D Tax Policy

May 9th, 2019

During this week’s election campaign announcements, Labor party industry spokesmen Kim Carr has outlined the following in discussions with the AFR and Innovationaus.com:  Labor want to increase Australia’s Business Expenditure on R&D to 3% of GDP by 2030. As part of this, they would seek to double the number of companies registered for the R&D Tax Incentive;  Labour would offer a “collaboration premium” that would add 10% to the value of a company’s R&D Offset for certain qualifying expenditure such […]

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Further Statement from Opposition on R&D Tax Policy

April 26th, 2019

Opposition spokesman on innovation policy, Ed Husic has recently discussed R&D Tax Incentive during an interview by  InnovationAus.com. Mr Husic’s comments come after the cost of the R&D Tax Incentive programme was reduced in the forward estimates published in the recent  federal budget. Husic stated that  “Labor absolutely and fundamentally recognises the powerful place occupied by the RDTI in the minds of the Australian startup community, and we do not want to make changes that affect the startup community’s ability to […]

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Labor Statements on Innovation Policy

April 16th, 2019

Opposition Innovation, Industry and Science Spokesman Senator Kim Carr has been quoted in the AFR today with respect to Labor’s innovation policy during the federal election campaign. Carr Indicated that if Labor were to win the election, he would work with AusIndustry, the ATO and Treasury with respect to reviewing the processes for compliance assessments of R&D claims. Carr indicated that striking a balance between programme integrity and ensuring that claimants aren’t treated unjustly is important to ensuring the best […]

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