Insights

Treasurer Scott Morrison has announced proposed changes to the R&D Tax Incentive program with effect for income years starting on or after 1 July 2018. In leading up to the Budget the Treasurer was quoted in saying that the Government needs to stop “writing blank cheques to everyone that has a good idea” and that we should not have a “tax incentive for business as usual” activities. The proposed measures are estimated to deliver a net gain to the budget of around $2 billion between 2018/19 and 2021/22 reflecting, as stated in the Budget Papers “lower than forecast claims”.

Innovation is good for Australian SMEs, but policymakers need to do more to prioritise our digital future, and encourage investment in Research & Development, report finds.

The Federal Budget is on track to surplus in 2021, though R&D Tax Incentive payments are forecast to fall, MYEFO reveals.

Iron ore prices to fall, LNG exports to rise; Federal Resources minister Matt Canavan calls for more R&D and resources investment.

Improve government support for R&D to reverse the decline in BERD and enhance financial support through the Export Market Development Grant program

Updated R&D guidance material has been released providing information for companies that are considering undertaking R&D involving software development. Also released is a guide to common errors made by software R&D claimants.

What is the effective rate of support under the R&D Tax Incentive given the phased reduction in corporate tax rates and the lapsing of the Government’s proposed changes to R&D.