• Service: Tax, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 7/31/2014

Australia - R&D incentives; fuel tax credits 

July 31: The KPMG member firm in Australia prepared reports on the following developments (read the reports by clicking on the hyperlinks provided below).
  • Entitlements under R&D incentive - Under the research and development (R&D) tax incentive, Australian R&D activities can be claimed when undertaken by an Australian permanent establishment (PE) on behalf of a foreign resident or an Australian subsidiary on behalf of a foreign resident—provided there is a written agreement in place and the country where the foreign resident resides has an income tax treaty in effect within Australia. Multinational companies may have an opportunity to claim R&D incentives on some or all of the R&D activities and expenditure in both Australia and the overseas jurisdiction.

    Read a July 2014 report.

  • Carbon tax repeal; fuel excise indexation - Taxpayers may need to consider what fuel tax credits are available with the repeal of the carbon tax and possible re-introduction of fuel excise indexation. The carbon tax was repealed effective 1 July 2014. The fuel excise indexation legislation has not yet been introduced into Parliament. Both would increase the complexity of calculating fuel tax credit entitlements.

    Read a July 2014 report.

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