I was simply trying to respond to the first of the points posted in opposition to the equivalent NZ system.
I was downplaying my confidence in understanding the system a little. Totally agree with you both. Jonathon. On 20/06/2011, at 8:18 PM, Geoff McQueen - Hiive Systems <geoff.mcqu...@hiivesystems.com> wrote: > 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! 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