Government Policy and Treasury

Government’s Proposed Cuts to the R&D Tax Incentive Lapses

April 21st, 2016

Innovation has become progressively debated in public discourse of late, leading to a significant focus on the R&D Tax Incentive in the last 12 months. This week, however, a positive development was made that will no doubt be welcomed by the innovation ecosystem in Australia. To clarify, a proposed 1.5% cut to the R&D Tax Incentive under the Tax and Superannuation Laws Amendment (2015 Measures No. 3) Bill 2015 will not ensue – the Bill before the senate has lapsed and […]

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Tax Discussion White Paper “Re:think” – Swanson Reed Submission

June 2nd, 2015

This submission outlines our view in response to the Australian Federal Government’s Tax Discussion White Paper “Re:think”. Re:think contains two questions concerning innovation: Question 39: Does the R&D tax incentive encourage companies to conduct R&D activities that would otherwise not be conducted in the absence of government support? Would alternative approaches better achieve this objective and, if so, how? Question 40: What other taxation incentives, including changes to existing measures, are appropriate to encourage investment in innovation and entrepreneurship? Australia […]

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Good News Flash – Proposed reduction to R&D offset rate rejected by Senate

March 4th, 2015

At the announcement of the May 2014 budget, the Federal Government proposed to decrease the refundable and non-refundable R&D tax offsets by 1.5% for FY15. The reduction in the R&D tax offset rates was proposed to commence one year prior to the 1.5% reduction in corporate rate for FY16. Had the R&D Tax Offset rates reduced one year prior to the corporate tax rate as proposed, the permanent effective benefit of the R&D Tax Incentive would have dropped in FY15, then been […]

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The Government’s Research and Development Blind Spot

February 2nd, 2015

When it comes to science and Research and Development, other countries are hitting the accelerator while Australia is shifting into reverse. During the Prime Minister’s prizes for Science, held at Parliament House last October, Tony Abbott delivered his speech in front of Australia’s best and brightest minds and left the stage with a barely audible applause. Abbott, who had been in office for just over a year, was surprised he received some form of applause after his Government implemented drastic […]

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