On 1 July 2018, AusIndustry announced that the R&D Tax Incentive compliance process has been streamlined to reduce the burden and improve the timeframes for companies chosen for examination. The stated aim is to make compliance simpler. MJA recently met with Ausindustry management in Canberra to gain a better understanding of how the new process works in practice. If a…
The recent Senate Economics Legislation Committee (SELC) Enquiry into the proposed R&D Tax incentive (the Incentive) legislation not only highlighted the previously-reported flaws in the reform package. It also pointed to the growing concerns in the Australian innovation marketplace about the current interpretation and delivery of the program by AusIndustry and the ATO. Considerable publicity has since been given to…
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