BUDGET 2013 loss-making start-ups to get R and D tax deduction boost

Thu, 16 May 2013

By Pattrick Smellie May 16 (BusinessDesk) - Loss-making start-up companies which invest heavily in research and development will be targeted for tax breaks under a scheme announcing a range of small concessions and new initiatives to more effectively tax foreign-owned companies and property investors. The scheme is intended to allow "small, R&D-intensive start-ups" to claim tax losses on research and development spending, which is currently not available. Eligibility criteria don't yet exist and will be defined in an issues paper next month,...

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