Draft legislation for R&D Tax Incentive changes released - 02 July 2018
On Friday 29 June 2018, Exposure Draft (ED) legislation and the associated Explanatory Materials were released for public consultation. These seek to enact the 2018-19 Federal Budget announcements made on 8 May 2018 to narrow the benefits available under the current R&D Tax Incentive program.
A Consultation Paper was released at the same time, with the Government seeking specific formal feedback and public comments on the proposed implementation of a number of key issues.
These measures represent the Government’s formal response to the Review of the R&D Tax Incentive originally released in September 2016. The proposed amendments seek to address certain perceptions that the existing program requires fine-tuning to achieve the intended innovation policy outcomes of “additionality” and “spillover” benefits.
Published: July 2018