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Government Policy and Treasury

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 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 of less than $20 million. Larger companies with an annual turnover of more than $20 million would have their […]

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Tech Industry Leaders Petition to PM Lobbying Against R&D Tax Reforms

August 24th, 2020

Reports have emerged that the chiefs of Australia’s leading technology companies collaborated in sending a joint letter to Prime Minister Scott Morrison on Friday. The letter was signed by leaders at Atlassian, Canva, Airwallex, Culture Amp, StartupAUS, Prospa, Freelancer, NextDC among others. The letter has expressed particular concerns regarding: Australian investment in research and development lagging behind peer OECD nations; The proposed reforms to reduce the R&D Tax Offset; The retrospective implementation of the reforms, if passed as law; A […]

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Reported Cross Bench and Labor Party Opposition To R&D Reform Following Senate Economics Committee Public Hearing

July 7th, 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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Media Reports That R&D Tax Changes Will Apply Retrospectively for FY20 (If Passed) As Registrations Open For FY20

June 30th, 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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