http://mjassociates.com.au R&D tax credit and concesssion expert consultants - Australia's leading independent consultants Fri, 25 Jun 2010 06:04:08 +0000 http://backend.userland.com/rss092 en You could be forgiven for missing out on yesterday’s news that the R&D Tax Credit legislation was not considered by the Senate before it concluded its current sitting thereby ensuring that the Credit will not be law by 1 July 2010. After all, it was a pretty quiet day in ... http://mjassociates.com.au/mja-update/just-another-day-in-parliament-house-%e2%80%93-rd-bills-delayed-and-something-else-happened/ Report Contains a Series of Minor Recommendations Only but the Government Does Advocate Removal of Dominant Purpose Test for SMEs The Senate Economics Legislation Committee (the Committee) released its Report into the R&D Tax Credit Bills (the Bills) yesterday. The Report sets up the debate in the Senate as to whether the Bills should become ... http://mjassociates.com.au/mja-update/senate-report-on-rd-tax-credit-released/ Well, the front page of this MJA Update at least, which wasn't that hard to do as it's all that the Update is about at the moment. In the wider media, it's hard to get a run in these times of super profits taxes and the highest paid AFL player being ... http://mjassociates.com.au/mja-update/rd-tax-credit-makes-front-page-news/ As the proposed commencement date of 1 July 2010 draws ever nearer, the process by which the Federal Government is seeking to kick start the new R&D Tax Credit (the Credit) continues to accelerate at an alarming rate. You can hear the clock ticking and the engine revving from here. Following ... http://mjassociates.com.au/mja-update/rd-tax-credit-%e2%80%93the-clock-is-ticking-the-engine-is-revving/ This morning, in the shadow of the Federal Budget, the Bill to introduce the R&D Tax Credit was read into parliament.  This Bill has failed to take on any of the major concerns raised in either consultation phases of the Christmas and Easter drafts, with the possible exception of the ... http://mjassociates.com.au/mja-update/the-rd-bill-read-into-parliament-today/ Hopefully, in amongst the Easter chocolate blitz and trips with the kids to see “Nanny McPhee And The Big Bang” (the only G-rated movie on these school holidays), you’ve had time to prepare a compelling submission in response to the 2nd Exposure Draft and Explanatory Materials (the Easter package) detailing ... http://mjassociates.com.au/mja-update/rd-tax-credit-%e2%80%93-the-shock-of-the-new/ The release of the second Exposure Draft of the R&D Tax Credit Legislation after the close of business on Wednesday 31 March, just prior to the Easter break, is disappointing, with a scant 9 days left in which to prepare a response. Given the tightness of this timetable, coupled with ... http://mjassociates.com.au/mja-update/rd-tax-credit-march-2010-exposure-draft-%e2%80%93-a-brief-summary-of-features/ "The Good, the Bad and the...oh, you know the rest." The Federal Government released the second Exposure Draft (ED) and Explanatory Materials (EM) in support of the new R&D Tax Credit (the Credit) after the close of business on Wednesday, March 31. In what is arguably emerging as a pattern, the ... http://mjassociates.com.au/mja-update/the-new-rd-tax-incentive-second-exposure-draft-released/ What has Loki been up to lately? Last week’s announcement that changes were being made to the draft legislation and explanatory materials associated with the New R&D Tax Credit (the Credit) was very welcome. MJA has expressed its concern that the Bill’s attempt to legislate additionality and spillover in the Object Clause ... http://mjassociates.com.au/mja-update/mischiefs-and-the-new-rd-tax-credit/ The Treasury has announced that the draft legislation that delivers the new R&D Tax Credit is being rewritten to make it clearer and less complex.  The letter below sets out the scope of the review including five major concerns that have been reflected in the recent submission process:  Definition of Core R&D Activities Definition ... http://mjassociates.com.au/mja-update/rd-tax-credit-is-being-rewritten/