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Effective Date for R&D Tax break for Software Developers

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Nicholas Hall

Earlier in the year we blogged about the new R&D tax break available for Software Developers. In terms of the Tax Laws Amendment Act people would be able to start applying for the tax deduction from 1 April 2012, unless the Minister of Science and Technology delayed the effective date.

Last week the Department of Science and Technology published a report on their website stating that the effective date has been pushed back to 1 October 2012.

While it is disappointing that this notice has only been published after the initial effective date, the delay should enable the Department to hopefully get systems in place to handle the (hopefully) many requests for the R&D tax deduction.

 

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