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R&D Tax amendments “put on hold”

After holding a four month inquiry into the proposed amendments to reduce benefits under the R&D Tax Incentive, the Coalition-led Senate Economics committee this week tabled its report recommending the Government “defer any further consideration……..until further examination and analysis of the potential impact is undertaken”.

With little opportunity to consider and pass any changes before the closure of Parliament leading up to the Federal election, effectively ends any potential for retrospective changes which is good news for R&D Tax claimants.

As neither side of Government has released any substantive policies around future changes to the R&D Tax Incentive, it’s a wait and see approach BUT at least all R&D Tax claimants can be now assured that no changes will take place which would have reduced their returns under the program for the current 18/19 financial year.

Should you wish to discuss any issues concerning the R&D Tax Incentive OR require assistance with the preparation and lodgement of your 17/18 registration application for which the 30th April deadline is fast approaching, please feel free to contact me, Gerry Frittmann, at gerry@tcf.net.au or on 02 8219 4900.

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