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Powering innovation through tax concessions : the changing research and development tax incentives

Sadiq, Kerrie (2010) Powering innovation through tax concessions : the changing research and development tax incentives. In Pinto, Dale (Ed.) 22nd Australasian Tax Teachers Association Conference, 20-22 January 2010, Sydney, NSW.

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      Abstract

      The changing R&D Tax Concession has been touted as the biggest reform to business innovation policy in over a decade. But, is it a changing tax for changing times? This paper addresses this question and further asks ‘what’s tax got to do with it?’. To answer this question, the paper argues that rather than substantive tax reform, the proposed measures simply alter the criteria and means by which companies become eligible for a Federal Government subsidy for qualifying R&D activity. It further argues that when considered as part of the broader innovation agenda, the R&D Tax Concession should be evaluated as a government spending program in the same way as any direct spending on innovation. When this is done, the tax regime is arguably only the administrative policy instrument by which the subsidy is delivered. However, it is proposed that this may not be best practice to distribute those funds fairly, efficiently, and without distortion, while at the same time maintaining adequate government control and accountability. Finally, in answering the question of ‘what’s tax got to do with it?’ the paper concludes that the answer is ‘very little’.

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      ID Code: 49834
      Item Type: Conference Paper
      Subjects: Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > ACCOUNTING AUDITING AND ACCOUNTABILITY (150100) > Accounting Auditing and Accountability not elsewhere classified (150199)
      Divisions: Current > QUT Faculties and Divisions > QUT Business School
      Current > Schools > School of Accountancy
      Copyright Owner: Copyright 2010 Kerrie Sadiq
      Deposited On: 24 Apr 2012 08:43
      Last Modified: 30 Apr 2012 16:21

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