Our members welcome the changes made to the second draft R&D legislation as a result of feedback received on the first exposure draft. However, these changes do not adequately address all the concerns identified in our previous submissions.
The proposed second draft R&D legislation will substantially limit access to R&D incentives for the property and construction industry and hold back future R&D in the sector.
The Property Council considers that the remaining issues can be simply addressed while maintaining the integrity of the R&D provisions.
The detail of each recommendation is outlined in the attached submission.