Australia Budget 2018-19 Delivered Including Individual and Corporate tax Rate changes and Changes to the R&D Incentive

On 8 May 2018, Australian Treasurer Scott Morrison delivered the country's Budget 2018-19. Main tax-related measures of the Budget are summarized as follows.

Integrity of the Research and Development Tax Incentive

One of the main aspects of the budget are measures to improve the integrity of the Research and Development (R&D) Tax Incentive, including:

• The introduction of an annual R&D offset refund cap of AUD 4 million for R&D claimants with aggregated annual turnover less tha…