Posts tagged R&D grants
New R&D Tax credit legislation passed
Aug 25th
On 24 August 2011 the bills to establish the long awaited R&D Tax Credit were passed by Parliament. The final step in the legislative process is Royal Assent by the Governor-General. AusIndustry and the ATO, as administrators of the R&D Tax Credit, will release guidance material for the program following Royal Assent.
The new R&D Tax Credit will replace the R&D Tax Concession. The two components of the program are 45 per cent refundable tax offset available to companies with an aggregated turnover of less than $20 million and 40 per cent non-refundable tax offset available for all other companies
R&D Tax Credit Bill Reintroduced- October 2010
Oct 4th
On 30 September 2010 the Assistant Treasurer, Bill Shorten, introduced the Tax Laws Amendment (Research and Development) Bill 2010 and the Income Tax Rates Amendment (Research and Development) Bill 2010 into the House of Representatives.
The Bills propose to replace the existing R&D tax concession with a 45 percent refundable R&D tax offset for eligible entities with a turnover of less than $20 million, and a non-refundable 40 percent R&D tax offset for all other entities.
The Bills, if enacted, are intended to apply from 1 July 2010.
Claiming R&D Tax in advance with Registered Research Agencies (RRAs)
May 13th
An important part of the Government’s commitment to Research and Development (R&D) is facilitating access by small and medium sized companies to expert R&D services, particularly those residing in public sector research organisations. There are a number of advantages that RRA’s offer to their clients; expenditure for Australian R&D work contracted to an RRA, within More >
Victoria–Israel Science and Technology R&D Fund (VISTECH) round 7 now open.
Apr 5th
Innovation Minister Gavin Jennings has opened the seventh round of funding for the Victoria–Israel Science and Technology R&D Fund (VISTECH) which provides matching government grants of up to US $500,000. VISTECH was launched in 2006 with Victoria and Israel each providing half of the US$6 million fund.
Second exposure draft of the R&D legislation released for comment
Apr 5th
A second Exposure Draft of the Legislation and Explanatory Materials (EM) was released on 31 March. The legislation and the EM can be found on the Treasury website.
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