R&D Tax Support for SMEs

A recent press release from the PM’s office advises that SMEs will be the biggest beneficiaries from changes to tax incentives for R&D.<--break->

The government will be saving funds by cutting eligibility for very large businesses.  But a third tier will be added to the eligibility requirements that specifically targets SMEs. “Companies with turnover of less than $20 million doing eligible R&D can receive an uncapped, fully refundable offset if they are in tax loss and, from 2014, eligible companies will be able to receive refunds as quarterly credits – improving cash flow and helping them conduct more R&D.”

Read the full press release.

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