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Research & Development Tax Reform Briefing with Baxter IP & KPMG

On 24 October 2011 Baxter IP Patent Attorneys held a briefing for its clients in collaboration with KPMG on the new tax reform incentives for business conducting R&D activities. The briefing was delivered by Paul Van Bergen from KPMG and provided an insightful commentary into the current incentives available, and how business can access them.

While the current scheme allows companies to claim a tax deduction on their income tax returns for eligible expenditure on R&D activities, effective from 1 July 2010 a new tax credit system will be available. A number of Baxter IP clients have indicated they will see $50,000 + benefits to their businesses by setting up their business to take advantage of the tax credits.