Australia appears to offer fewer tax-related incentives than many of our Asian neighbours. However, it is easy to understate and under-claim the incentives that are on offer in Australia. At the forefront of these incentives isthe Research and Development (R&D) tax offset regime but there are many other incentives and concessions available to corporates. Some of these are directed toward particular industries or market areas, for policy purposes,whereas others potentially have much broader application.This paper takes a deeper dive into the R&D incentives before summarising a number of the otherf ederal government incentives currently on offer.
This paper covers:
- the new modifications to the R&D incentive
- who benefits and who loses?
- the new instalment system how to manage risk,maximise cash flow benefits and get your systems and processes right
- practical issues from the latest R&D related ATO IDs and Public Rulings – what have we learnt regarding the new R&D regime?
- an overview of other grants and incentives on offer in Australia, including the Clean Technology Program, ARENA, Commercialisation Australia and the Innovation Precinct Program.