R&D Incentive changes flagged for Federal Budget

The Treasurer in a speech has indicated that the Government will respond to the Research and Development (R&D) Tax Incentive review in the upcoming Federal Budget to ensure that the taxpayer’s significant investment in R&D, throughthis incentive, is generating maximum benefit for the economy and the Australian public. The Treasurer commented that the Government’s focus “is to relaunch an R&D tax incentive that is all about R&D additionality, things that would not have happened anyway, and rewarding the intensity of that effort.”