Australia is considering changes to the qualifying criteria for companies to enjoy research and development tax incentives. The proposed change is to exclude companies with aggregate assessable income exceeding AUD 20 billion.
The current R&D incentive regime allows for an effective 150% deduction for qualifying R&D expenditure by companies with aggregate revenue less than AUD 20 million, and an effective 133% deduction for the qualifying R&D expenditure of all other companies.