Calls for clarity on R&D approach
Leading startups are urging clarity on the government's research and development tax policy, saying the policy is crucial to the country's economic success and the time it is taking to review proposed changes is causing investment paralysis.
The R&D scheme lets companies claim a tax offset for genuine research and development spending within their businesses. Amid claims of the scheme's misuse, the government had committed to refocus the policy and introduce tougher caps and requirements on what can be claimed, including a maximum claimable offset of $4 million.
Read more at The Age.