New R&D tax credit is here - what are the impacts?
29 Aug 11 |
WEEKLY TAX BULLETIN
Issue: Issue 36, 26 August 2011
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  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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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