The new R&D Tax Incentive program replaces the previous system, the R&D Tax Concession, and applies to innovation-related activities taking place after 1 July this year. The terms of the renamed program offer more generous terms for companies and individuals who attempt to innovate, doubling support for small firms to 15 cents in the dollar and increasing all other firms by a third, to 10 cents in the dollar.
Innovation Minister Senator Kim Carr said the Government decided to rebrand the concession as an incentive to encourage creative firms and individuals to invest in new ideas, products and services.
“This is a huge opportunity for Australian firms. The new incentive is designed so more firms can access government support. It will provide assistance to innovating companies when they need it most,” Senator Carr said. “The new incentive will support more firms – and it is important that people who may not have considered applying for assistance under the old system understand it is there to help them.?
The information sessions are designed to help businesses access and best use the new R&D Tax Incentive to drive the development of new ideas, products and processes.
While the Melbourne, Sydney, Canberra and Brisbane workshops have already taken place, businesses can attend the sessions at the following times:
Adelaide ? 9.30am-1.20pm ? Tuesday, 27 September, 2011
Perth ? 9.30am-1.20pm ? Thursday, 29 September, 2011
Hobart ? 9.30am-1.20pm ? Tuesday, 4 October 2011
Darwin ? 9.30am-1.20pm ? Thursday, 6 October, 2011
To register, visit www.ausindustry.gov.au
SOURCE: AusIndustry