March, 2020

Concerns Over Consultation Process for R&D Tax Reform Bill

March 9th, 2020

A reform bill proposing controversial changes to the R&D Tax Incentive for FY20 is currently being considered by the Senate. This bill is 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 last year. A Senate Economics Legislation Committee recommended in February 2019 that this bill should be deferred from consideration until further analysis […]

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Application of R&D Tax Incentives to Software debated during Senate Select Committee of Financial Technology

March 2nd, 2020

Fintech Australia has used a speech at the the Senate Select Committee of Financial Technology and Regulatory Technology to call for better clarity that software activities be included within the scope of eligibility for R&D Tax Incentives. The Article reports a senior figure from ISA responding to the question “Would Atlassian be considered eligible for R&D tax incentives?” with a reply of “No, because it’s software”. We note however that this comment may be incorrect or out of context since: […]

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