R&D experts are urging government to rethink administrative functions of the R&D Tax Incentive Scheme, rather than impose more limitations on innovative enterprises in the federal budget. In recent comments to the Australian Financial Review, Treasurer Scott Morrison revealed there will be changes to the R&D tax incentive that will be announced in the pre-election federal … Continue reading Don’t cap funding to R&D – Improve the integrity of the system that supports it
The Turnbull government’s plan to cut company tax rates from 30 to 25 per cent over the next decade is one step close to becoming a reality. This week the Business Council of Australia’s leadership and 10 chief executives of top Australian companies pledged they’d deliver wage rises and higher investment in Australia if the cuts are … Continue reading Gov company tax cut inches closer to victory with new support
The Business Council of Australia (BCA) looks set to double down on its failed strategy in its appointment of new president Grant King.
US President-elect Donald Trump made an election promise to cut the US federal corporate tax rate from the current 35% to 15%. A somewhat more modest proposal is under way in Australia.
Cochlear’s chairman Rick Holliday-Smith has said federal savings measures targeting R&D tax incentives could see the company move research activities a out of Australia.
Few examples of Australian tax policy are subject to as frequent change as the Research & Development tax subsidy, again under review by the federal government. Substantive changes to the rules have occurred every five of the past 20 years. By contrast, the US has had essentially the same R&D tax rules since 1990.
Don’t miss out: it’s now easier to claim Research and Development (R&D) activities than ever before, as Alan Johnson reports.
A number of big Australian companies have started to publicly release tax reports recently, such as ANZ, BHP Billiton, AMP and the National Australia Bank. This follows intense scrutiny of tax minimisation and evasion from the Australian government.
Recent Endeavour Awards champion Admedus is growing briskly, with their tissue engineering process being used to repair hearts all over the world. Brent Balinski spoke to the company’s chief operating officer, Dr Julian Chick. Australia’s “clean and green” image is a benefit well-known to many of our food exporters. Regulations are among the reasons it’s … Continue reading Pumped about the future
Celebrity chef Jamie Oliver has praised the introduction of a tax on sugary drinks in the UK and urged other countries like Australia to follow suit as a way to fight obesity.
With the release of Prime Minister Malcolm Turnbull’s science and innovation statement expected in just under a week, expectations are running high, perhaps too high.
Australia’s quest to develop a stronger innovation ecosystem has seen a growing focus on the income tax system, and whether it should be used as a lever to help achieve this goal.
Changes to taxation and the treatment of bankruptcy are expected to be among areas targeted in the federal government’s innovation statement, to be released next month.
Australian biotech company CSL chose Switzerland over Australia for its new manufacturing plant because of this country’s higher company tax rate, according to the company’s director.
The Senate Economics Reference Committee will today hear how innovation holds the key to the future of Manufacturing and a great number of jobs, in a presentation by medical device manufacturer Cook Medical Australia.
Australian biotech company CSL is calling for a company tax rate capped at 10 per cent, for advanced manufacturing derived from Australian innovations.
Labor would cut the tax on small business to 25 per cent and place a greater emphasis on science and technology, says Opposition Leader Bill Shorten.
The budget measure which gives small businesses a $20,000 upfront tax deduction on asset purchases could be rorted, according to a prominent tax adviser.
Treasurer Joe Hockey is set to deliver small business a tax cut of at least 1.5 per cent in tonight’s federal budget.
Microsoft is considering making phone handsets in India, following the Indian government’s introduction of new duties on imported phones.