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Research & Development Update

We advised you recently of the changes that the Australian Government has announced for a wide range of research activities undertaken by the Government. Details are included in:-

  • Backing Australia's Ability 2 - Issues For SMEs - Paper 28.10

This highlights the Commercial Ready Programme that the current Government intends to commence in October, 2004. Currently, there are a number of other concessions available for Small/Medium Enterprises relating to Research & Development and these are summarised in ESS BIZTOOLS under the following Papers:-

  • Research & Development For SMEs - Paper 14.40
  • Research & Development Tax Deduction - Paper 12.10
  • R&D Eligibility Checklist For 125% Tax Deductions - Paper 12.11
  • R&D Tax Rebates For Small Companies - Paper 12.13

The Government has announced that the last applications for the R&D Start Programme will be received on 10th September, 2004, after that date the new Commercial Ready Programme will apply.

Kind Regards

Peter Towers FCPA FAICD MIMC
MANAGING DIRECTOR