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Research and development paper

Published on 13 Mar 13 by NATIONAL DIVISION, THE TAX INSTITUTE

The passing of two new tax bills in 2011, the Tax Laws Amendment (Research and Development) Bill 2010 and the Income Tax Rates Amendment (Research and Development) Bill 2010, has provided the opportunity to make significant cash savings on eligible research and development (R&D) activities and greater flexibility regarding intellectual property rules. The laws allow for an increased ability to claim overseas R&D, and the opportunity to apply for a Private Binding Ruling on R&D activities. Importantly, the government is targeting the new program at small-to-medium-size enterprises, that can save up to 45 cents on every dollar of R&D spend.

This paper helps you identify the opportunities these changes provide, ensuring you get the most out of your R&D tax incentive.

Author profiles:

Edward BAYFORD
Edward is a Consultant at KPMG. Current at 13/03/13.

 
Phillip Renshaw CTA
Phil is a Partner at KPMG. Current at 13 March 2013

David Gelb ATI
David is the National Partner in charge of KPMG Australia’s R&D practice. David specialises in the R&D tax concession and other government incentives for R&D and innovation. David is the Chairperson of The Tax Institute’s R&D Group and regularly meets with senior members of AusIndustry and the Australian Taxation Office. David was closely involved with the R&D tax concession review component of the 2008 National Innovation System Review. He is also on the Executive of KPMG’s Global R&D Network. Current at 16 November 2012 Click here to expand/collapse more articles by David GELB.

Helen GILFIDDER
    Helen is a Director at KPMG.
    Current at 13 March 2013

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