n the recent budget, the Australian government made changes to the research and development system applicable for large companies (turnovers over $20M).  In so doing, the government repealed its proposed legislation, which has been stalled in the Senate. Companies with annual turnovers of $20M or more will still face a tiered intensity approach that will now see two tier levels instead of three. The marginal research & development premium will be 8.5% above the company's tax rate for R & D expenditure between 0% and 2% R & D intensity (R & D % of turnover). Read The Full Article Here

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