Katy Gallagher (ACT, Australian Labor Party) Share this | Hansard source

Labor will not be supporting this amendment. The provisions as set out in the omnibus bill relating to the R&D tax incentive are the same as those that Labor committed to supporting during the 2016 election, with a start date of 1 July 2016. As part of our election platform, Labor said we would support the government's proposal to take savings from the R&D tax incentive. We also said that a Labor government would use the findings of the review to consider whether there are more appropriate methods to achieve the same level of savings. It is disappointing that the technical issues with this measure remain unresolved, despite stakeholders raising them with the government on numerous occasions, but it is the government's responsibility to resolve those technical elements relating to the drafting of these provisions and their interaction with other areas of tax law.