R&D review is long over due, companies like QFX shouldn't...

R&D review is long over due, companies like QFX shouldn't qualify, what R&D have they done anyway? Released a few apps and a website  should hardly qualify as R&D.  Stopping companies like QFX is exactly what tightening of the rules would achieve and save the budget millions.

"The incentive is being claimed by an increasing number of companies each year. In 2012-13, it cost the Budget around $2.5 billion and it is likely the Government will look for ways to tighten these rules.

The suggestion is the incentive should be used only to encourage R&D activities that otherwise wouldn't happen without government support.

Submissions in response to the Paper are due by 1 June 2015."

Govenment released on 30 March 2015, a 203-page “Re:think Tax Discussion Paper”

5.3 REVIEW OF R&D INCENTIVE  Page 100

http://bettertax.gov.au/publications/discussion-paper/




Kat.