“Racing!” (just very slowly) in the R and D tax incentive change stakes

The government’s bill is back in the House, next Thursday

The bill is the government’s latest effort to enact the Review of the Three Fs recommendation on targeting of tax concessions. The legislation said to potentially save $1.8bn over the forward estimates.

The bill was in the House before Christmas but did not make it through before it adjourned. It will pass this sitting and go to the Senate, where it could be referred to a committee which may not recommend its passing – this is what happened to the previous version last year, (CMM December 9). Word is that it could happen again.