Yeah, I'm right there with you Ben. I've been pretty impressed with the R&D tax concession in previous years, and while there has been talk about them favouring University (often wasteful) research over commercial software research and product development done in-house, the changes that have just gone through are much much better for SMEs.
I'm told that under the old system a mining company could claim the "development" of their roads and other fixed infrastructure by saying they were experimenting with what gradient was most efficient for their big tonka trucks. As a taxpayer: ouch. Jonathon, perhaps you're railing about another program that is administered by AusIndustry, the Commercialisation Australian program. There's already been a lot of discussion, most of it unflattering on the list about it http://bit.ly/ltM8d1, and I'd tend to agree with you that it doesn't look like something that will get great outcomes for Aussie industry or taxpayers. Geoff -----Original Message----- From: silicon-beach-australia@googlegroups.com [mailto:silicon-beach-australia@googlegroups.com] On Behalf Of Ben Thompson Sent: Tuesday, 21 June 2011 1:02 PM To: Silicon Beach Australia Subject: [SiliconBeach] Re: Australia's R&D Tax Credit Opens For Business I'm not sure what you are trying to say Jonathon? R&D Tax Credit is a self assessment, similar to personal income tax, where you work you may already be conducting would be classified as R&D by the legislation, and therefore eligible for tax incentives. This is the rebadged and repurposed legislation that currently covers the R&D Tax Concession. They have tried to cut out the big end of town (mining) to focus on SMEs, changed a few definitions relating to R&D and eligibility, and upped the level of support and introduced a quarterly (rather than yearly) rebate for companies operating in tax loss On Jun 18, 10:13 am, Jonathon Blackford <jonathonblackf...@gmail.com> wrote: > I may be misinterpreting the way the R&D tax credits work, but from what I > understand the ability of any particular government bureaucrat is irrelevant > to the way this money is being 'distributed'. The theory with this system is > that it will encourage private enterprise to invest in R&D ventures that > THEY decide have potential. > > Did I miss something? > > > > > > > > On Fri, Jun 17, 2011 at 4:01 PM, drllau <drlawrence...@gmail.com> wrote: > > >http://sciblogs.co.nz/a-measure-of-science/2011/05/24/lifting-new-zea... > > > NZ OpEd perspective on R&D tax credits. Summary > > > - worries that firms will reclassify existing work as research and > > development to gain tax credits, rather than actually innovate > > - not sufficient for economic growth > > - author's opinion that increased government spending on R&D is > > compelling (based on Finland) > > > The problem I see with the last point is that picking winners has > > never been a bureacrat's skillset. And judging on VC performance, > > perhaps not even WallStreet ... > > > Lawrence > >http://nz.linkedin.com/in/drllau > > > -- > > You received this message because you are subscribed to the Silicon Beach > > Australia mailing list. > > > Guidelines on discussion: > >http://groups.google.com/group/silicon-beach-australia/msg/351e183e13... > > > No lurkers! It is expected that you introduce yourself. > > > To post to this group, send email to > > silicon-beach-australia@googlegroups.com > > To unsubscribe from this group, send email to > > silicon-beach-australia+unsubscr...@googlegroups.com > > For more options, visit this group at > >http://groups.google.com/group/silicon-beach-australia?hl=en?hl=en -- You received this message because you are subscribed to the Silicon Beach Australia mailing list. Guidelines on discussion: http://groups.google.com/group/silicon-beach-australia/msg/351e183e1303508d?hl=en%3Fhl%3Den No lurkers! It is expected that you introduce yourself. To post to this group, send email to silicon-beach-australia@googlegroups.com To unsubscribe from this group, send email to silicon-beach-australia+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/silicon-beach-australia?hl=en?hl=en -- You received this message because you are subscribed to the Silicon Beach Australia mailing list. Guidelines on discussion: http://groups.google.com/group/silicon-beach-australia/msg/351e183e1303508d?hl=en%3Fhl%3Den No lurkers! It is expected that you introduce yourself. To post to this group, send email to silicon-beach-australia@googlegroups.com To unsubscribe from this group, send email to silicon-beach-australia+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/silicon-beach-australia?hl=en?hl=en
