A new season, new Parliament and a new attempt to cut the R&D Tax Offset rate

September 1, 2016 Sarah Lander

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 proposes to cut the rate for R&D Tax Incentive claims commencing on or after 1 July 2016.

MJA will work closely with the relevant parties throughout the legislative process and we will ensure to keep you updated on the Bill’s progress.

Should you wish to discuss this matter further, please do not hesitate to contact
Sarah Lander on 02 9810 7211 or email sarah.lander@mjassociates.com.au