The Federal Government is holding a series of information sessions to explain the processes and accessibility of new R&D Tax Incentive.

 

The sessions, to be held in September and October, will be aimed at helping businesses learn how to access and best use the new R&D Tax Incentive to drive the development of new ideas, products and processes.

 

"AusIndustry, together with the Australian Taxation Office, will be conducting information sessions around the country in September and October to ensure firms are aware of the support available under the program," Federal Innovation Minister Senator Kim Carr said.  

 

The incentive, which recently passed Parliament, forms a key element of the Government's Powering Ideas innovation agenda.

 

The legislation started retrospectively from 1 July 2011. The two core components of the Credit are a 45 per cent refundable R&D Tax Credit for small firms with turnover of less than $20 million and a 40 per cent non-refundable R&D Tax Credit for all other firms.

 

To register for an information session or for more information on the R&D Tax Incentive, visit AusIndustry.gov.au.