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MJA Updates

Senate Committee Report Delayed till Post-Budget

August 24, 2020 Melanie Reen

In February 2020, the Senate referred the provisions of the Treasury Laws Amendment (Research and Development Tax Incentive) Bill (the Bill) 2019 to the Economics Legislation Committee for inquiry and report by 30 April 2020. This was then extended to 7 August,and then to24 August, presumably due to the restrictions imposed by Covid 19. On Friday 21 August 2020, the Senate…

The R&D Bill Is Introduced To Parliament

September 21, 2018 Melanie Reen

Yesterday, on the last sitting day of parliament for this month, the R&D tax Bill was introduced in the Lower House. The Treasury Laws Amendment Bill (Making Sure Multinationals Pay Their Fair Share of Tax in Australia) Bill 2018 (the Bill), details the proposals from this year’s Federal Budget to the R&D tax program and incorporates changes from the Exposure…

R&D Tax Incentive Reform: Draft Legislation Released

July 2, 2018 Melanie Reen

The Treasurer Scott Morrison and the Minister for Jobs and Innovation Michaelia Cash have just released draft legislation to implement the changes to the R&D Tax Incentive announced as part of the 2018–19 Federal Budget. In summary, the proposal is unchanged from Budget night, and the key features of this exposure draft are: Setting the tax offset for non-refundable claimants (> $20…

What’s your new year’s resolution?

January 12, 2016 Melanie Reen

To exercise more? To improve your diet? To stop wasting time on cat videos? Research suggests that most New Year’s resolutions are unlikely to succeed. However, if your resolution is to improve the documentation of your R&D activities, we would suggest that this is a resolution you should work hard to ensure you keep. Following on from a long list…

R&D Rate Reduction Bill – Still Hanging in There

September 17, 2015 Melanie Reen

The Tax and Superannuation Laws Amendment (2015 Measures No. 3) Bill 2015 has appeared and re-appeared on the Senate Order of Business a number of times over the life of the current Senate, without coming to a vote or, until this week, even being debated. This Bill, if passed, will reduce the rates of the refundable and non-refundable offsets by 1.5 percentage…

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