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March, 2017

R&D tax update – Issues relevant to building & construction claims

March 17th, 2017

The following R&D tax update seeks to provide information on recent developments affecting the operation of the incentive, and compliance issues relevant to the building and construction industry. Recent R&D Tax Offset and Income Tax Rate Changes The Budget Savings (Omnibus) Bill 2016 passed both houses of parliament in September 2016. Included within the Bill’s range of budget savings measures was a uniform 1.5% reduction in R&D tax offset rates, which will apply to R&D claims for income years starting on […]

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ATO to review R&D Tax Incentive for construction activities

February 24th, 2017

The arrangements of certain building and construction industry participants that are claiming the R&D Tax Incentive are being reviewed by the ATO and AusIndustry.The arrangements under review concern R&D claimants who are involved in either: Acquiring buildings or extensions Alterations or improvements Constructing, extending, altering or improving buildings.   The review applies for instances where some or all of the expenditure: Is incurred on building and construction activities, which are expressly excluded from being taken into account in calculating an R&D […]

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