Treasury's 'costing hole' removes R&D constraints, says RSM Australia
Amid mounting concerns about the magnitude of the miscalculation involved in the federal government’s flagship R&D tax incentive program, RSM Australia has led calls for a reconsideration of technical oversights regarding refundable offset claims.
The Treasury formula used to calculate the true cost of the program seemingly overlooked the non-tax deductibility of eligible R&D expenditure, leading companies to relinquish a 30 per cent tax deduction. Stephen Carroll of RSM Australia’s tax services division is therefore calling for a more realistic discussion, tabling the best mix of measures for an R&D tax incentive program.
Read the full story at AccountantsDaily.