Overview
The Industry Research and Development Act 1986 supports the administration of the Research and Development Tax Incentive.
Two legislative instruments under the act are scheduled to sunset on 1 April 2022:
- Industry Research and Development Decision-making Principles (Decision-making Principles)
- Industry Research and Development Regulations (Regulations)
Our department is proposing to remake both instruments in broadly the same form.
We are seeking feedback on minor amendments that aim to improve the clarity of the legislation and its outcomes.
Decision-making Principles
The Decision-making Principles sets out the compliance principles when the Board is:
- making a decision
- allowing an extension of time
- refusing to make a finding
- allowing a variation to a registration.
Regulations
The Regulations mandate the matters to be set out in:
- certificates for findings, criteria and conditions for research service providers
- applications and requests for further information.