The exposure draft for the new R&D Tax Credit legislation is still expected to be available towards the end of November according to Kris Gale, Managing Director, Michael Johnson Associates. Kris made the comment on “At The Open” on Sky Business Channel earlier today.
The program focused on the concerns that have been raised by the recent Treasury consultation paper’s proposal to change the definition of R&D. It was noted that the delays in the delivery of that paper have caused many to conclude that the recent public submission process may have little impact on the draft legislation. These concerns have been heightened by recent revelations that a number of public servants involved in the consultation process to date have moved on.
Details regarding the contents of the exposure draft will appear in an MJA Update as soon as they become available.
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