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Economics Legislation Committee recommends deferral of proposed changes to R&D

February 11th, 2019

The Senate Economics Legislation Committee has today handed down their recommendation on proposed changes to the R&D Tax Incentive which have followed recent consultations with the industry. The committee which is made up of members from varying sides of politics has recommended the Senate “defer consideration” of the bill until “further examination and analysis of the impact is undertaken”. Given that there are only a limited number of parliamentary sitting days until the next federal election, this outcome means the […]

Senate Economics Committee Review Into Proposed R&D Tax Incentive Changes

January 31st, 2019

The Senate Economics Legislation Committee conducted a public hearing in Melbourne on 30 January which heard submissions from various stakeholders including: Cochlear Ltd; Brickworks Ltd; CSL; Dulux Group; The AFR has reported that representatives from these groups have consistently argued that continual change to R&D Tax Incentive introduces uncertainty and reduces Australia’s relative attractiveness as an investment location. In fact, R&D spending in Australia has fallen by over $2 billion since 2013-14. The proposed intensity threshold for companies with annual turnover […]

Technology One R&D Expenditure

January 22nd, 2019

Brisbane based IT company Technology One Limited have publicly recently released their Annual Report for the YE 30 Sep 2018 and have attributed a tax saving of $3.98 Million to their R&D Tax Incentive Claim. This can be inferred as R&D Expenditure of approximately $47 Million during FY18 and per the annual report, has been driven by the company’s continued investments in their Enterprise Software, AI and Machine Learning projects. Experimental software development activity remains eligible under the R&D Tax Incentive, […]

Opposition Policy on R&D Tax Incentive

January 17th, 2019

With a federal election due over the coming months, the opposition labor party have made some announcements with respect to their policy on the R&D Tax incentive. The original R&D tax incentive legislation was enacted whilst the labor was in power. Labor have committed to maintain the R&D tax incentive as the primary lever to induce business R&D. Labor have indicated they would look to incorporate the collaboration premium within the R&D tax incentive for expenditure on activities undertaken in […]

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