Thursday 29 September 2011
R&D tax incentive information sessions rolled out across Australia
As part of the commencement of the R&D Tax Incentive, AusIndustry and the Australian Tax Office (ATO) are holding a series of public information sessions in regional areas.
The information sessions follow the sessions which have already taken place in all state capitals and will provide attendees with an opportunity to gain a better understanding of the program.
About the R&D tax incentive
The R&D Tax Incentive is the Australian Government’s principal measure to encourage industry investment in research and development. It is a broad-based, market-driven program that aims to boost company competitiveness, improve productivity and deliver economy-wide benefits to Australia.
The R&D Tax Incentive replaces the R&D Tax Concession for research and development in income years commencing on or after 1 July 2011. It provides generous benefits for eligible research and development activities (R&D activities). The two components of the program are:
- a 45 per cent refundable tax offset for eligible companies with an aggregated turnover of less than $20 million per annum; or
- a non-refundable 40 per cent tax offset for all other eligible companies.
The R&D Tax Incentive is jointly administered by AusIndustry (on behalf of Innovation Australia) and the Australian Taxation Office (ATO).
Further information on the R&D Tax Incentive can be viewed here.
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