21 Sep 099 Consultation Paper: The New Research and Development Tax Incentive
In a media release issued on 18 September 2009, the Treasurer, Wayne Swan, and the Minister for Innovation, Industry, Science and Research, Senator Kim Carr, announced the release of the Research and Development Tax Incentive Consultation Paper. The Government will begin consultation with key stakeholders on the detailed design features of the new R&D Tax Credit, announced in the 2009-10 Budget.
"From 1 July 2010, the Government will replace the complex and outdated R&D Tax Concession with a simplified R&D Tax Credit which cuts red tape and provides a better incentive for all businesses to invest in research and innovation," Mr Swan said.
Submissions are requested by Monday 26 October 2009.
For a copy of the joint media release, No 2009/102, 18 September 2009, go here
For a copy of the Consultation Paper, go here