The passing of two new tax bills in 2011, the Tax Laws Amendment (Research and Development) Bill 2010 and the Income Tax Rates Amendment (Research and Development) Bill 2010, has provided the opportunity to make significant cash savings on eligible research and development (R&D) activities and greater flexibility regarding intellectual property rules. The laws allow for an increased ability to claim overseas R&D, and the opportunity to apply for a Private Binding Ruling on R&D activities. Importantly, the government is targeting the new program at small-to-medium-size enterprises, that can save up to 45 cents on every dollar of R&D spend.
This presentation helps you identify the opportunities these changes provide, ensuring you get the most out of your R&D tax incentive.