November, 2024

R&D Tax Incentive expenditure exceeded the Industry Department’s projections

Reporting by InnovationAus has detailed how the value of Australia’s Research and Development Tax Incentive (“RDTI”) has significantly exceeded the Industry Department’s projections by nearly $860 million for the last financial year. Recent Government data reveals that the RDTI accounted for 30.9% ($4.23 billion) of all Commonwealth R&D investment in 2023-24, an increase from the expected 27% ($3.37 billion). The revised RDTI expenditure significantly influenced the total estimated R&D expenditure for the 2023-24 financial year, which increased from $12.6 billion to $13.8 billion. The final […]

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