In an AFR article titled, Uniseed CEO Peter Devine urges rethink on R&D changes, Mr Devine discusses how the proposed changes to the R&D Tax Incentive will negatively impact SMEs. This bill will see a massive cut to R&D benefits for both larger companies and start-ups. Tax cuts are useless to start-ups as most businesses lose money for their first few years. The R&D Tax Incentive provides valuable support for R&D undertaken by Australian innovators, which in turn creates new businesses and jobs. These changes will reduce that support.
Want to know more? Contact our expert R&D Tax team for more details.