Senate debates Bills

In Committee


Kim Carr

Kim Carr Victoria, Australian Labor Party, Minister for Innovation, Industry, Science and Research

9:47 pm

The proposed amendments would allow the benefits of the tax incentive to be taken on the revenue account but allow taxation arising from the disposal of R&D results to be assessed on a capital account. The proposed amendments create a tax arbitrage opportunity that would impact the budget, and we cannot support them.

Question negatived.

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