On 8 May 2018, the Government announced it will reform the Research and Development Tax Incentive (R&DTI) to better target the program and improve its integrity and fiscal affordability in response to the recommendations of the 2016 Review of the R&D Tax Incentive. The exposure draft legislation and associated explanatory materials are now released on the Treasury website for public consultation.

The exposure draft legislation and associated explanatory materials outline the Government’s proposed implementation of the reforms. These changes will apply for income years starting on or after 1 July 2018.

The consultation is open up until Thursday 26 July 2018.

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