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The new R&D Tax Credit is expected to commence on 1 July 2011. The Bills to establish the R&D Tax Credit are currently before Parliament.
On 15 June 2011, the Government announced crossbench support for the new R&D Tax Credit with a new start date of 1 July 2011.
Details of the Government’s announcement are available at the Minister for Innovation, Industry, Science and Research’s website.
AusIndustry has produced an Update on the R&D Tax Credit to keep you informed of developments on the new program.