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New R&D tax credit is here - what are the impacts?

Publication date: 29 Aug 11 | Source: WEEKLY TAX BULLETIN

Issue: Issue 36, 26 August 2011

Abstract:

  The passage of the Tax Laws Amendment (Research and Development) Bill 2010 and the Income Tax Rates Amendment (Research and Development) Bill 2010 through Parliament (see para [1388] of this Bulletin) now confirms that the new R&D Tax Credit legislation will replace existing R&D tax concession legislation established in 1986. The new legislation will take effect for financial years commencing on or after 1 July 2011.

This article highlights the critical components of the new legislation.

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Author profiles

Helen GILFEDDER
Helen is Tax Director R&D with the Ford Motor Company of Australia Ltd. She specialises in Research and Development Tax Concession and other Government Incentive Programs providing assistance to a wide cross section of industries.
Current at 25 July 2002
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Steve Carroll
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Mathew Herring