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  • Research & Development Tax Credit Program

    20 June at 12:47 from atlas

    On 15 June 2011, the Government announced crossbench support for the new R&D Tax Credit Program.

    The new R&D Tax Credit will replace the R&D Tax Concession and provides eligible companies with a tax offset for expenditure on eligible R&D activities. The two components of the program are:


    a 45 per cent refundable tax offset available to companies with an aggregated turnover of less than $20 million; and

    a 40 per cent non-refundable tax offset available for all other companies


    The media release announced that the start date for the new program will be 1 July 2011 (the previous start date was 1 July 2010). It also announced the introduction of quarterly payments for small and medium businesses from 1 January 2014.