Posts tagged Research and Development tax
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
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 >
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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