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Federal Budget 11 May 2021 – R&D Tax Incentive Update

May 12th, 2021

For multiple years leading into the prior federal budget in 2020, the Government attempted to pass controversial measures aimed at reducing the cost of the R&D Tax Incentive, which had stalled in the senate and were not legislated.   When the October 2020 Federal Budget (delayed due to COVID) was handed down, business was pleasantly surprised. The Government had pivoted away from proposed cuts, and made the R&D Tax Incentive a centrepiece tool of job creation and investment, by proposing changes […]

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Federal Budget 2021 – R&D Tax Incentive Not Likely to be a Focus…(Hopefully)

May 7th, 2021

In the belated federal Budget handed down in October 2020 (delayed due to COVID), reforms to the R&D Tax Incentive were a centrepiece. Leading up to the 2020 budget, the government was proposing substantial changes to the R&D Tax Incentive which were aimed at reducing the cost of the programme, but that had not yet been legislated as law. When the 2020 budget was announced, the government largely backed away from the unworkable changes in its R&D Tax Incentive reform […]

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Senate Committee Calls for Quarterly RDTI Payments

May 4th, 2021

InnovationAus has reported that a government-led Senate committee chaired by Liberal Senator Andrew Bragg has called for R&D Tax Offsets to be paid quarterly, and for a new standalone scheme for software-related claims to be considered. The report included notable quotes: “The committee is recommending that different assessment methodologies be allowed under the RDTI scheme, and that consideration also be given to a standalone scheme for software development; “The timing of RDTI payments was also raised with the committee, with […]

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Direct Incentives are Needed to Improve Australia’s Research Commercialisation, and the Post-Covid Economy

April 19th, 2021

The black box flight recorder, Polymer bank notes, Wi-Fi technology and cochlear implants – they’re all Australian inventions. To keep these developments coming, and improve our research and innovation, we need direct investment through university innovation and small business incentives. Right now, Australia’s indirect incentives – specifically the R&D Tax Incentive – are providing 86% of our business research support. While that’s an impressive number, the R&D Tax Incentive offers money back, meaning small businesses could miss out if they […]

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Alex Chisholm
Principal, Melbourne
Tom Parkhouse
Principal, Sydney
Andy Nguyen
Principal, Brisbane
Holly Parkinson
Manager, Adelaide
David Greatwich
Principal, Perth
Krishna Gungaram
Manager, Hobart

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