For most, 30 June 2016 will mark the end of the financial year (EOFY) and for those investing in innovation, there are a few issues that should be on your radar.
If you are claiming the Research and Development (R&D) Tax Incentive, there are three things you should consider before the end of the income year:
If you are thinking about investing in someone else’s innovation, consider whether any of the new tax breaks might apply. Two commencing 1 July 2016 are:
While many government initiatives are on hold pending the election, the tax incentives above are not and should be part of your innovation FY2016 review and FY2017 planning.