The Rudd Government today released draft legislation for the new R&D Tax Credit — the biggest reform to business innovation policy in over a decade.
The draft legislation follows through on the Government’s commitment to deliver a more generous, more predictable, and less complex tax incentive by replacing the outdated and complicated R&D Tax Concession.
This important microeconomic reform is part of the Government’s broad productivity agenda. It will cut red tape and provide better incentives to help boost the competitiveness of the Australian economy.
The R&D Tax Credit is also a central element of the Rudd Government’s long-term agenda to lift Australia’s innovation capacity and performance, Powering Ideas.
Original Article: Rudd Government Unveils Biggest Reform To Business Innovation Policy In Over A Decade | Gov Monitor
