Australia

Details

  • Service: Tax, R&D Incentives, Topics, Federal Budget
  • Type: Business and industry issue
  • Date: 19/05/2014

Federal Budget 2014

Federal Budget 2014
KPMG's review of the major implications arising from the 2014 Federal Budget.

Federal Budget contacts

If you would like to discuss the 2014 Federal Budget, please contact your KPMG adviser or one of our KPMG professionals.

Federal Budget 2014: R&D Tax Incentive and Grant Funding 

The Australian Government has provided some form of R&D tax incentive since the mid-eighties. Whilst the mechanics and generosity of the R&D benefit have changed over that time, Government commitment to some form of R&D tax incentive has not.

The current R&D Tax Incentive was only introduced for the 2012 income year. At the time, there was bipartisan support for a more generous program and it is disappointing that so soon after its introduction, the Government has sought to reduce its support.
 

Key insights

  • R&D tax incentive cuts and reductions or consolidation of grant funding.
  • Examples highlighting the impact of these changes over the next 3 years.
  • Future changes to the R&D funding landscape.
 

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Video: David Linke on Federal Budget and Commission of Audit

Video: David Linke Pre-Budget insights, 2014 Federal Budget
National Corporate Tax Leader, David Linke, sets the scene for how the Commission of Audit may impact the 2014 Federal Budget.

R&D Incentives

KPMG's R&D Incentives professionals can assist organisations to take advantage of the R&D and innovation benefits they are eligible to receive.
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