Date posted: 11/06/2020 2 min read

Joint submission requesting deferral of the start date for the R&D Tax Incentive Bill

Joint submission requesting deferral of the start date for the R&D Tax Incentive Bill currently before Parliament

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.