News

08 August 2018

An update on the R&D Tax Incentive from Minister Megan Woods

Our plan to introduce a tax incentive to lift economy-wide spending on R&D is well on track.

Officials are now busily finalising the design of the R&D tax incentive, and I will be able to announce the final version of the scheme in the near future.

We will be introducing the legislation this October so businesses can start benefiting from the tax incentive in April 2019.

There will be further opportunities to have your say on the R&D tax incentive during the select committee process.

I look forward to updating you again soon.

Hon Dr Megan Woods, Minister of Research, Science and Innovation

Read the Minister’s full update here.