From 1st July 2011, the Australian Government’s R&D Tax Incentive replaced the previous R&D Tax Concession.
In the 2009 budget, the government announced that it intended to introduce a new R&D tax offset to replace the existing 125% R&D Tax Concession and rebate offset, the 175% premium concession and the 175% international concession. This legislation was passed by the Senate in August 2011, with the R&D Tax Incentive commencing from 1 July 2011
The R&D Tax Incentive is jointly administered by AusIndustry (on behalf of Innovation Australia) and the Australian Taxation Office (ATO).
MJA can help you obtain optimal benefits from the new R&D Tax Incentive, and satisfy the associated compliance requirements. read more