Certainty for the R&D Tax Incentive

We previously wrote to you on 7 April 2020 with our concerns in relation to current uncertainty surrounding the measures contained in Treasury Laws Amendment (Research and Development Tax Incentive) Bill 2019 (R&D Bill). The relevant part has been extracted in the attached Appendix.

Delays to the progression of the R&D Bill have occurred as a result of the planned hearings for the inquiry into the R&D Bill run by the Senate Standing Committee on Economics (Committee) being postponed as a result of the COVID-19 pandemic. The Committee is now not scheduled to report until 7 August 2020.


Submission prepared by:

The Joint Bodies

(Chartered Accountants Australia and New Zealand, Corporate Tax Association, CPA Australia, Institute of Public Accountants, Law Council of Australia and The Tax Institute)

Submitted to:

The Hon. Josh Frydenberg MP
Treasurer

 

Tagged
  • 2020
  • Business taxation
  • Infrastructure & innovation
  • R&D tax incentive