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MJA Updates
R&D tax rate cut effective from 1 July 2016
Just before midnight last night, the Senate voted to approve the Budget Savings (Omnibus) Bill 2016. As you will recall from an earlier MJA Update, this Bill included a 1.5% rate cut to the R&D tax offset. This rate cut applies to all eligible entities for tax years commencing on or after 1 July 2016. Whilst other aspects of the…A new season, new Parliament and a new attempt to cut the R&D Tax Offset rate
Yesterday, the 45th Parliament introduced the Budget Savings (Omnibus) Bill 2016 which included a range of measures to progress towards “fiscal repair”. One of these 24 measures was the re-introduction of mooted cut to the R&D Tax Incentive. The Bill proposes a 1.5% rate cut to all eligible entities but, unlike the previous incarnation, this Bill is not retrospective and…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.