Reports Industry Minister Is Considering Changes To The Administration Of The R&D Tax Incentive

September 3rd, 2019

InnovationAus.com has reported that Industry Minister Karen Andrews is investigating potential changes to the administration of the R&D Tax Incentive to give companies greater certainty about their claims.

The report of potential changes has come following recent comments by Small Business Ombudsman Kate Carnell and Tax Commissioner Chris Jordan on the administration and compliance aspects of the programme.

Within the article, Mrs Andrews ruled out issuing any new guidance that would change the established definitions about what constitute R&D under the programme, which indicates that any changes may be in respect of the procedures for registration of activities, or compliance reviews.

The article did not include any comments from Mrs Andrews around the government’s stance on potential reintroduction of proposed changes to the R&D Tax Incentive legislation (including the intensity threshold and refundable offset cap), which were not passed as law within a previously introduced bill.

Swanson Reed supports the efforts of the ATO and AusIndustry to uphold the integrity of the R&D Tax Incentive, and encourages all participants of the programme to review the R&D Tax Incentive guidance material published by these agencies.

 

Post a Comment

(*) indicates required field.

Categories

Archives

Email this job

[recaptcha]