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|  The R&D Tax Incentive’s primary objective is to enhance and increase the amount of private sector R&D being conducted within Australia, with a view towards stimulating economic growth and prosperity via the development of new and improved products, processes and services. | |
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| The Government has released its Consultation paper “The new research and development tax incentive”
Apart from the change to a tax credit system and the new benefit levels, many of the other key issues are presented as options of how the new program may approach different issues.
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Last week saw the passing of legislation to increase the R&D expenditure threshold for R&D Tax Offset claimants from $1 million to $2 million for the 2009/10 year ( click here to access the Minister’s press release). This transitional measure is the first in a series of planned changes to Australian R&D Tax incentives that were announced in the 2009 Federal Budget, and precedes the introduction of a new R&D Tax Credit, from 1 July 2010, to replace the existing R&D Tax Concession/Offset program.
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| | The Government has announced the planned end to the 125% Research & Development (“R&D”) Tax Concession and with it the Refundable R&D Tax Offset program. In its place, a system of tax credits for business expenditure on genuine R&D will take effect from 1 July 2010 - implementing some of the recommendations of the Cutler Review of the National Innovation System. | |
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Round 1 is open for applications until COB 25 August 2005. | |
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The unfashionable topic of research and development tax concessions moves towards centre stage this month.
CFO, 01 March 2005 | |
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Mick Lynch, Director of BSI, says too many Innovative Companies are failing to take advantage of a potential government windfall. | |
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