CORRECT: BUDGET 2018: Govt sets aside $1 bln for R&D tax credit

Thu, 17 May 2018

(Fixes incorrect delivery agency in final paragraph) By Paul McBeth May 17 (BusinessDesk) - The government has set aside about $1 billion over the next four years for tax rebates from the research and development tax credit, which Innovation Minister Megan Woods hopes will spur on the level private sector R&D investment. The pre-announced tax credit lets businesses claim 12.5 cents in the dollar back for every dollar they spend on R&D, provided that bill is more than $100,000 a year. Woods announced the tax credit, which the Labour-led...

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