Treasury Laws Amendment (Research and Development Tax Incentive) Bill 2019 introduced – increase $100m threshold to $150m; cap refunds to $4m pa; extend GAAR to R&D offsets and allow Innovation Board to issue binding rulings

On 5.12.19, the Government introduced the Treasury Laws Amendment (Research and Development Tax Incentive) Bill 2019 to ‘better target the Research and Development Tax Incentive (R&DTI) and to ensure its ongoing sustainability’ (as the Ministers said in their joint press release). This was first announced in the 2018-19 Budget.

See below for the Treasurer’s Media Release and a summary of the Bill.

[Tax Month – December 2019]