In simple terms, the Research and Development (R&D) tax incentive provides a tax offset to eligible companies that conduct certain R&D activities that are likely to benefit Australia’s wider economy. As a response to various reviews which indicated that the incentive was not meeting its policy objective, the government has introduced draft legislation to overhaul the incentive to better target the program and ensure its integrity.
If your company claims the R&D tax offset currently and you would like to know how the changes may affect you, we can help.
