Scott Morrison will outline the Coalition’s manufacturing reboot during a budget scene-setter at the National Press Club. Follow live
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11.27pm BST
While we are on building the manufacturing industry, it might also be worth pointing out that the government still has its Treasury Laws Amendment (Research and Development Tax Incentive) Bill 2019 on the books, which puts caps on the research and development tax incentive.
It’s a complicated formula, but basically smaller companies will see a $4m cap on the RDTI and larger companies will have an “intensity measure” put in place to calculate their offsets.
11.16pm BST
The manufacturing announcement is not all new – the manufacturing modernisation fund was an election commitment – the government kicked in $50m and the industry contributed $110m for the $160m program.
Here is Karen Andrews announcing its launch in September last year
Continue reading…Scott Morrison will outline the Coalition’s manufacturing reboot during a budget scene-setter at the National Press Club. Follow liveFull Australian Covid stats; Covid restrictions state by stateNSW cases map; Vic cases mapSign up for Guardian Australia’s coronavirus email 11.27pm BSTWhile we are on building the manufacturing industry, it might also be worth pointing out that the government still has its Treasury Laws Amendment (Research and Development Tax Incentive) Bill 2019 on the books, which puts caps on the research and development tax incentive.It’s a complicated formula, but basically smaller companies will see a $4m cap on the RDTI and larger companies will have an “intensity measure” put in place to calculate their offsets. 11.16pm BSTThe manufacturing announcement is not all new – the manufacturing modernisation fund was an election commitment – the government kicked in $50m and the industry contributed $110m for the $160m program.Here is Karen Andrews announcing its launch in September last year Continue reading…