Chartered Accountants Australia and New Zealand, Corporate Tax Association, CPA Australia, Institute of Public Accountants, Law Council of Australia and The Tax Institute have lodged a joint submission asking for confirmation from the Government:
- that R&D tax claims made in relation to the 2019-20 and 2020-21 income years will be subject to the current enacted legislation, and
- that the start date for Treasury Laws Amendment (Research and Development Tax Incentive) Bill 2019 will be deferred until 1 July 2021.
- Request the Government to defer the start date for the R&D Tax Incentive Bill currently before Parliament to 1 July 2021.
The submission was lodged with The Treasurer on 5 June 2020.