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19 Feb 10 Submission on the new Research and Development tax incentive

On 5 February 2010, the Taxation Institute lodged a submission with Treasury in relation to the Research and Development  (R&D) Tax Incentive - Exposure Draft Legislation and Explanatory Materials released on 18 December 2009.

In particular, the submission considers the cumulative impact of the following key issues:

  • Significant restrictions to the definition of R&D activities.
  • The wholesale exclusion of computer software development activities and other activities
  • The penalising of successful R&D with the introduction of new ‘feedstock’ rules and the expenditure 'not at risk'  provision.
  • The inability of Australian companies to access the R&D credit in respect of R&D activities undertaken for related foreign  companies.
For a copy of the submission, go here.

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