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Information Technology News ACS calls for 200 percent R&D tax concessions
Information Technology News ACS calls for 200 percent R&D tax concessions | ACS calls for 200 percent R&D tax concessions |
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| by Stephen Withers | |
| Friday, 13 June 2008 | |
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Page 1 of 2 To keep in line with other OECD countries, the Society says the basic concession should be restored to 150 percent, with a 175 percent rate applying to SMEs. A 200 percent incremental premium concession is also recommended. Another disincentive is the complex administrative burden involved, including compulsory registration with Innovation Australia, "onerous" accounting procedures to separate eligible R&D costs from other costs, the need to deal with multiple agencies. So the ACS is also pushing for a simplification of tax offset and grants procedures along with a doubling of the R&D tax offset threshold and other measures to encourage national innovation. The ACS recommends significantly simplified administrative processes,"a one stop R&D tax concession shop", and an extension of the arrangements to cover all business structures, not just companies. What else is the ACS proposing? See page 2. |
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