• p. 02 9810 7211

MJA Updates

Senate Hearing Just Completed

February 25, 2015 Kris Gale

The Public Hearing into the Tax Laws Amendment (Research and Development) Bill 2013 by the Senate Economics Legislation Committee was held in Canberra earlier this afternoon. The Committee consisted of Senators Bushby (Chair) and Bishop. Statements were made and questions taken by Caltex, Deloitte and EY. Representatives from Treasury, the ATO and the Department Of Industry simply answered questions and…

R&D Tax Incentive: The Debate Around The Merits Of The $100 Million Cap

February 24, 2015 Kris Gale

The recent introduction of the $100 million R&D expenditure cap on R&D Tax Incentive (Incentive) claims as a result of the PUP Amendment to the The Tax Laws Amendment (Research and Development) Bill 2013 has been received with a degree of genuine surprise. The fact that the measure was pushed through without public consultation, without apparent costings and without a clear administrative process (as…

R&D Tax Incentive – What’s In This Year’s Easter Basket?

February 14, 2015 Kris Gale

After this morning's excitement in Canberra, it is probably fair to assume it will be back to business as usual. And on the first day of the Senate, our old friend, the Tax Laws Amendment (Research and Development) Bill 2013 is listed as Number 5 in the order of business. One thing that can be said about the ongoing saga…

Targeting Access Bill Passed in Senate

February 13, 2015 Kris Gale

Late yesterday the Senate passed the Tax Laws Amendment (Research and Development) Bill 2013, with a PUP amendment giving effect to a reduced tax offset for expenditure in excess of $100 million, to be applied retrospectively from income years commencing after 1 July 2014. A proposed Greens amendment to introduce quarterly credits failed to pass, as did a Labor Party…

Keep informed

MJA updates keep you informed on how government decisions will effect your business. This is a must if you want to know the latest on business and company insights without having to read and decipher complicated law and tax manuscripts.

* indicates required