ATO getting tough on those who don’t respond
The Australian Taxation Office said it is instigating stronger action for people who have not met their tax...READ MORE
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.