October, 2020

Federal Budget Update – R&D Tax Incentive a Winner

October 7th, 2020

Federal budgets under both major parties have not presented good news for the R&D Tax Incentive in recent years, with the flagship programme for encouraging business investment in R&D subjected to a series of proposed cuts via caps and rate reductions. This year’s budget has been a welcome change in the wake of the Government’s plan for COVID economic recovery. As was flagged by the media last week, the government has largely backed away from the unworkable changes in its […]

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AFR reports that government will back down on R&D Tax budget reforms

October 2nd, 2020

In December 2019, the government re-introduced a bill to reform the R&D Tax Incentive. This bill was 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 at that time. A Senate Economics Legislation Committee recommended in February 2019 that the initial bill should be deferred from consideration until further analysis of the bill’s impact […]

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