The Australian Treasury has launched a consultation on draft legislation for the reform of the Research and Development Tax Incentive (R&DTI) announced as part of the Budget 2018-19 ({News-2018-05-09/P/2-previous coverage}). The reform includes an increase in the R&D expenditure threshold from AUD 100 million to AUD 150 million, the introduction of an AUD 4 million cap on R&D refunds for smaller businesses, and a redesign of how the tax offset rates are determined/applied.
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