Review of the R&D Tax Incentive (December 2019)
On 12 December 2019, the Australian Small Business and Family Enterprise Ombudsman released the Review of the Research and Development Tax Incentive (R&DTI).
The review details a comprehensive investigation of the experiences of small and family businesses that have claimed the R&DTI. It recommends this important incentive be retained and a suite of reforms made to the way the system is administered.
The recommendations follow broad consultation with stakeholders including the businesses that accessed R&DTI, representatives from the agencies responsible for the program, the Tax Practitioner’s Board (TPB), R&D consultants, industry associations and academics in the field of innovation.