Published on 17 Oct 12
by NEW SOUTH WALES DIVISION, THE TAX INSTITUTE
The new R & D regime commenced in 2011 and it contains a number of significant changes generating the loss of existing opportunities and the creation of new opportunities.
This paper covers:
- who and what qualifies now that did not qualify before
- what does not qualify now that did qualify before
- the opportunity to secure claims via Overseas and Advance Findings
- new opportunities to encourage international R&D to be done in Australia
- relaxing of rules allowing international ownership of R&D project IP
- other changes to the incentives
- what your company needs to be doing differently.
Ian Ross-Gowan is a Director with Michael Johnson Associates, Australia's largest independent advisor on R&D programs. Prior to commencing with MJA in 2008, Ian was the Group Taxation Manager of OneSteel. He has been working in R&D from a tax perspective since 1993 including the R&D Tax Concession, R&D Tax Incentive and the 1990s investment allowance. Ian is the major author of the R&D sections of CCH tax guides and writes R&D articles for The Tax Institute's Taxation in Australia journal and is a candidate for a PhD in taxation law with the University of NSW undertaking research into the taxation and accounting treatment of long-term complex production assets.
- Current at
29 October 2012