Footnotes
Summary and Recommendations
[1]
Senator the Hon Kim Carr, Minister for Innovation, Industry, Science and
Research, Senate Economics Committee Hansard, 31 May 2010, p. 51.
Chapter 1 - Tax Laws Amendment (Research and Development) Bill 2010 Income Tax Rates Amendment (Research and Development) Bill 2010
[1]
Dr Craig Emerson MP, Minister for Small Business, Independent
Contractors and the Service Economy, Second Reading Speech, House of
Representatives Hansard, 13 May 2010, p. 1.
[2]
Second Reading Speech, House of Representatives Hansard, 13 May
2010, pp 1-2.
[3]
Second Reading Speech, House of Representatives Hansard, 13 May
2010, p. 2.
[4]
The Treasury and Department of Innovation, Industry, Science and
Research, Joint Submission, 20 May 2010, p. 3.
[5]
Second Reading Speech, House of Representatives Hansard, 13 May
2010, p. 2.
[6]
Second Reading Speech, House of Representatives Hansard, 13 May
2010, p. 2.
[7]
Senate Selection of Bills Committee, Report No. 7 of 2010, 13 May
2010, Appendix 7.
Chapter 2 - Research and Development Tax Incentive
[1] Section 73B(1AAA), Income
Tax Assessment Act 1936.
[2] Following the announcement
of the changes in the 2009-10 federal budget the Government increased this
grouped expenditure threshold to $2 million for the 2009-10 income year.
[3] AusIndustry and Australian
Taxation Office, Guide to the R&D Tax Concession, Part A, Version
4.3, February 2010, p. 9.
[4] AusIndustry and Australian
Taxation Office, Guide to the R&D Tax Concession, Part A, Version
4.3, February 2010, p. 11.
[5] The Hon. Senator Kim Carr,
Minister for Innovation, Industry, Science and Research, Senate Estimates
Hansard, 31 May 2010, p. 51.
[6] Explanatory Memorandum,
Tax Laws Amendment (Research and Development) Bill 2010, para 1.6, p. 12.
[7] Explanatory Memorandum, p.
12.
[8] The after tax benefit is
the value of the additional deduction, ie the additional 50 per cent where the
deduction was 150 per cent of expenditure. For example, in 1988 the applicable
tax rate was 49 per cent meaning business deductions would be worth 49 cents,
however, if the deduction were for R&D expenditure, the entity would be
able to claim a deduction for one and a half times the actual expenditure, the
result being that the company would receive an additional 24.5 cent (49/2)
deduction for their actual expenditure.
[9] AusIndustry and Australian
Taxation Office, Guide to the R&D Tax Concession, Part B – Research
and Development Activities, Version 4.2, July 2008, p. 6.
[10] AusIndustry and Australian
Taxation Office, Guide to the R&D Tax Concession, Part B – Research
and Development Activities, Version 4.2, July 2008, p. 14.
[11] AusIndustry and Australian
Taxation Office, Guide to the R&D Tax Concession, Part B – Research
and Development Activities, Version 4.2, July 2008, p. 14.
[12] AusIndustry and Australian
Taxation Office, Guide to the R&D Tax Concession, Part B – Research
and Development Activities, Version 4.2, July 2008, p. 19.
[13] Explanatory Memorandum,
para 5.21, p. 122.
[14]
Explanatory Memorandum, p. 123.
[15]
Explanatory Memorandum, para 5.5, p. 118.
[16] Senator the Hon Kim Carr
and the Hon Wayne Swan MP, New R&D tax credit – exposure draft legislation,
Media Release, 18 December 2009.
[17] The Treasury, The new
research and development tax incentive – Consultation guide – a second exposure
draft, March 2010, p. 1.
[18] Productivity Commission, Public
Support for Science and Innovation, March 2007, pp 392 and 403.
[19] Productivity Commission, Public
Support for Science and Innovation, March 2007, p. 390.
[20] How R&D Assistance
Influences Company Behaviour: A survey investigating behavioural additionality
effects of the R&D Tax Concession Program, p. 16; http://www.innovation.gov.au/Section/Innovation/Documents/RDbehaviour200720071024131738.pdf.
[21] House of Representatives
Standing Committee on Economics, Finance and Public Administration, Australian
Manufacturing: Today and Tomorrow, July 2007, pp 141-2.
[22]
Venturous Australia, 2008, pp xiii-xiv.
[23]
Report on Australia's Future Tax System, p. 168.
[24]
Report on Australia's Future Tax System, p. 168.
[25] G Davis and G Tunny,
'International comparisons of research and development', Economic Roundup,
Spring 2005.
[26]
Medicines Australia, Answers to questions on notice, p. 2.
[27]
James Dyson, Ingenious Britain: Making the UK the Leading High Tech
Exporter in Europe, 2010, pp 52-53.
Chapter 3 - The Economics of Innovation and R&D
[1] Cited by House of
Representatives Standing Committee on Economics, Inquiry into Raising the
Productivity Growth Rate in the Australian Economy, April 2010, p. 14.
[2] House of Representatives
Standing Committee on Economics, Inquiry into Raising the Productivity
Growth Rate in the Australian Economy, April 2010, p. 19.
[3] House of Representatives
Standing Committee on Economics, Inquiry into Raising the Productivity
Growth Rate in the Australian Economy, April 2010, pp iii-iv.
[4] Dr Christopher Roberts,
Cochlear, Proof Committee Hansard, 21 May 2010, p. 11.
[5] Professor Roy Green, Proof
Committee Hansard, 21 May 2010, p. 18.
[6]
Venturous Australia, 2008, p. vii.
[7]
Productivity Commission, Public Support for Science and Innovation,
2007, p. 7.
[8]
Mr Innes Willox, Australian Industry Group, Proof Committee Hansard,
21 May 2010, p. 2.
[9]
Productivity Commission, Public Support for Science and Innovation,
2007, p. xvii.
[10]
Professor Roy Green, Proof Committee Hansard, 21 May 2010, p. 18.
[11]
G Davis and G Tunny, 'International comparisons of research and
development', Economic Roundup, Spring 2005, pp 74-77.
[12]
ABS, Research and Experimental Development, Businesses 2007–08,
cat. no. 8104.0, p. 32.
[13] Michael Johnson Associates,
Submission 5, Attachment B, p. 7.
[14] Mr Innes Willox, Australian
Industry Group, Proof Committee Hansard, 21 May 2010, p. 2.
[15] Ms Deborah Monk, Medicines
Australia, Proof Committee Hansard, 20 May 2010, p. 9.
[16] Cited by House of
Representatives Standing Committee on Economics, Inquiry into Raising the
Productivity Growth Rate in the Australian Economy, April 2010, p. 49.
[17] House of Representatives
Standing Committee on Economics, Finance and Public Administration, Australian
Manufacturing: Today and Tomorrow, July 2007, pp 140; ABS, Research and
Experimental Development, All Sector Summary, Australia, 2006-07, cat. no.
8112.0.
[18] G Davis and G Tunny,
'International comparisons of research and development', Economic Roundup,
Spring 2005, p. 63.
[19] Cited by House of
Representatives Standing Committee on Economics, Inquiry into Raising the
Productivity Growth Rate in the Australian Economy, April 2010, p. 49.
[20] J Sheehan and A Wyckoff,
‘Targeting R&D: economic policy implications of increasing R&D
spending’, STI Working Papers, no. 2003/8, OECD: Paris.
[21]
Productivity Commission, Public Support for Science and Innovation,
2007, p. 43.
[22] Mr Gary Banks, Chair,
Productivity Commission, cited in House of Representatives Standing Committee
on Science and Innovation, Riding the Innovation Wave: the Case for
Increasing Business Investment in R&D, June 2003, p. 12.
[23] G Davis and G Tunny,
'International comparisons of research and development', Economic Roundup,
Spring 2005.
[24] House of Representatives
Standing Committee on Economics, Finance and Public Administration, Australian
Manufacturing: Today and Tomorrow, July 2007, pp 141-2.
[25] Michael Johnson Associates,
Submission 5, Attachment B, p. 4.
[26] KPMG, Submission 9,
p. 13.
[27] Dr Brendan Shaw, Chief
Executive Officer, Medicines Australia, Proof Committee Hansard, 20 May
2010, p. 2.
[28] Ms Deborah Monk, Medicines
Australia, Proof Committee Hansard, 20 May 2010, p. 8.
[29] House of Representatives
Standing Committee on Economics, Inquiry into Raising the Productivity
Growth Rate in the Australian Economy, April 2010, p. 3.
[30] J Haskell and G Wallis,
'Public support for innovation, intangible investment and productivity growth
in the UK market sector', Imperial College Business School discussion papers,
no. 2010/01, February 2010, p. 21.
[31] N Bloom, R Griffith and J
van Reenen, 'Do R&D tax credits work? Evidence from a panel of countries
1979-1997', Journal of Public Economics, vol 85, issue 1, July 2002, p.
1.
[32] G Davis and G Tunny, 'International
comparisons of research and development', Economic Roundup, Spring 2005,
p. 73.
[33] Department of Industry,
Tourism and Resources, How R&D Assistance Influences Company Behaviour,
July 2007.
Chapter 4 - Criteria for Evaluating R&D Assistance
[1]
Bill, p. 5; amending subdivision 355-A.
[2]
Among prominent economists to have developed this idea of spillovers are
Alfred Marshall, Paul Romer and Kenneth Arrow.
[3]
Letter to Isaac McPherson, 1813.
[4] Zvi Griliches, 'The search
for R&D spillovers', Scandinavian Journal of Economics, no 94, 1992,
p. 29.
[5] Ms Deborah Monk, Medicines
Australia, Proof Committee Hansard, 20 May 2010, p. 8.
[6] Australian Industry Group,
Submission 19, pp 3-4. Similar comments were made by their
representative Mr Innes Willox, Proof Committee Hansard, 21 May 2010, p.
2.
[7] Mr Ken Pettifer, Head of
Innovation Division, Department of Innovation, Industry, Science and Research, Proof
Committee Estimates Hansard, 31 May 2010, p. 55.
[8] Mr Innes Willox,
Australian Industry Group, Proof Committee Hansard, 21 May 2010, p. 2.
[9] L Georghiou and B
Clarysse, 'Introduction and synthesis', in Government R&D Funding and
Company Behaviour, OECD, 2006, p. 11.
[10] Productivity Commission, Public
Support for Science and Innovation, 2007, p. 65.
[11] Hon Kim Carr, Minister for
Innovation, Industry, Science and Research, Proof Committee Estimates
Hansard, 31 May 2010, p. 65.
[12] Mr Kris Gale, Managing
Director, Michael Johnson Associates, Proof Committee Hansard,
20 May 2010, p. 28.
[13]
Professor Roy Green, Proof Committee Hansard, 21 May 2010, p. 19.
[14]
Professor Roy Green, Proof Committee Hansard, 21 May 2010, p. 22.
[15]
James Dyson, Ingenious Britain: Making the UK the Leading High Tech
Exporter in Europe, 2010, p. 54; cited by Professor Roy Green, Proof
Committee Hansard, 21 May 2010, p. 19.
[16]
Mr Weber, Department of Innovation, Industry, Science and Research, Proof
Committee Estimates Hansard, 31 May 2010, p. 65.
[17]
Mr Robin Parsons, Partner, Indirect Tax, Ernst & Young, Proof
Committee Hansard, 20 May 2010, p. 14.
[18] Mr Kris Gale, Managing
Director, Michael Johnson Associates, Proof Committee Hansard,
20 May 2010, p. 31.
[19]
AusBiotech, Submission 1, pp 1-2.
[20]
Venturous Australia, 2008, p. 104.
[21] Mr Paul McCullough, General
Manager, Business Tax Division, Proof Committee Hansard, 20 May
2010, p. 46.
[22] Productivity Commission,
Cited by House of Representatives Standing Committee on Economics, Inquiry
into Raising the Productivity Growth Rate in the Australian Economy, April
2010, p. 127.
[23] J Haskell and G Wallis,
'Public support for innovation, intangible investment and productivity growth
in the UK market sector', Imperial College Business School discussion papers,
no. 2010/01, February 2010, p. 21.
[24] Productivity Commission, Public
Support for Science and Innovation, March 2007, p. 73.
[25] CSIRO,
cited in Productivity Commission, Public Support for Science and Innovation,
March 2007, p. 384.
[26]
Mr Serge Duchini, Partner, Deloittes, Proof Committee Hansard, 21
May 2010, p. 33.
[27] Another form of support
without a budgetary cost is allowing companies monopoly rights (patents) for
limited periods over innovation arising from their R&D.
[28] House of Representatives
Standing Committee on Economics, Finance and Public Administration, Australian
Manufacturing: Today and Tomorrow, July 2007, pp 153-4.
Chapter 5 - Eligible Expenditure
[1] Productivity Commission, Public
Support for Science and Innovation, 9 March 2007, p. 8.
[2] Explanatory Memorandum,
Tax Laws Amendment (Research and Development) Bill 2010, para 1.1, p. 11.
[3] Proposed sections 355-1,
355-20 and 355-35, Tax Laws Amendment (Research and Development) Bill 2010, pp
4-7.
[4] And that foreign country
has a double tax agreement with Australia.
[5] Notional deductions — a
notional deduction is an amount that an R&D entity would otherwise deduct
for business expenditure if they were not eligible for the R&D tax offset.
[6] Explanatory Memorandum,
para 3.10, p. 51.
[7] Explanatory Memorandum,
para 1.28, p. 15. An R&D entity can obtain an offset regardless of the
level of its R&D deductions for expenditure incurred to a Research Service
Provider or for expenditure incurred as a monetary contribution to a
Cooperative Research Centre. An RSP provides services in one or more specified
research fields to registered R&D entities. A CRC is an organisation formed
through medium to long term collaborative partnerships between publicly funded
researchers and end users. Source: Explanatory Memorandum, pp 59 and 98. RSPs
and CRCs are not covered in detail in the Committee's report.
[8] Explanatory Memorandum,
para 2.2, p. 19.
[9]
Dr Peter Burn, Director, Public Policy, Australian Industry Group, Proof
Committee Hansard, 21 May 2010, p. 7.
[10]
Dr Chris Roberts, Chief Executive Officer, Cochlear, Proof Committee Hansard,
21 May 2010, p. 11.
[11]
Mr Geoff Stearn, GSM Consulting, Submission 7, p. 1.
[12]
NOAH Consulting, Submission 8, p. 2.
[13]
Mr Serge Duchini, Partner and Research and Development and Tax Incentives
Practice Leader, Deloitte, Proof Committee Hansard, 21 May 2010, p. 32.
[14]
Mr Kris Gale, Managing Director, Michael Johnson and Associates Pty Ltd, Proof
Committee Hansard, 20 May 2010, pp 32 and 35.
[15]
Tax Laws Amendment (Research and Development) Bill 2010, lines 12–21, p.
5.
[16]
Dr Peter Burn, Director, Public Policy, Australian Industry Group, Proof
Committee Hansard, 21 May 2010, p. 3.
[17]
Dr Chris Roberts, Chief Executive Officer, Cochlear, Proof Committee
Hansard, 21 May 2010, p. 14.
[18] Mr Serge Duchini, Partner
and Research and Development and Tax Incentives Practice Leader, Deloitte, Proof
Committee Hansard, 21 May 2010, p. 34.
[19] Mr Paul McCullough, General
Manager, Business Tax Division, Treasury, Proof Committee Hansard, 20
May 2010, p. 48.
[20] The Frascati Manual,
a publication developed by the OECD in Frascati, Italy in 1963, is a technical
document that is viewed as the 'cornerstone' of OECD efforts to increase the
understanding of the role played by science and technology by analysing
national systems of innovation. As it provides internationally accepted
definitions of R&D and classifications of its component activities, it
contributes to intergovernmental discussions on best practice for science and
technology policies. Source: Frascati Manual – Proposed Standard Practice
for Surveys on Research and Experimental Development, OECD, 2002, p. 3.
[21] Experimental development is
defined by the Frascati model as systematic work, drawing on existing knowledge
gained from research and/or practical experience, which is directed to
producing new materials, products or devices, to installing new processes,
systems and services, or to improving substantially those already produced or
installed. Source: Dr Peter Burn, Australian Industry Group, Proof Committee
Hansard, 21 May 2010, p. 2.
[22]
Section 73B(1) Definitions, ITAA 1936.
[23]
Section 73B(2B), ITAA 1936.
[24]
Mr Paul McCullough, General Manager, Business Tax Division, Department of
the Treasury, Proof Committee Hansard, 20 May 2010, p. 47.
[25] Which requires activities
to be systematic and investigative, involve appreciable novelty or high levels
of technical risk or be conducted for the purpose of acquiring new knowledge or
information or for creating new or improved materials, products, devices,
processes or services.
[26] Mr Paul McCullough, General
Manager, Business Tax Division, Department of the Treasury, Proof Committee
Hansard, 20 May 2010, p. 47.
[27] Dr Peter Burn, Australian
Industry Group, Proof Committee Hansard, 21 May 2010, p. 6.
[28] Dr Chris Roberts, Cochlear,
Proof Committee Hansard, 21 May 2010, p. 16.
[29] Mr Innes Willox, Australian
Industry Group, Proof Committee Hansard, 21 May 2010, p. 2.
[30] Professor Roy Green, Dean,
Faculty of Business, University of Technology Sydney, Proof Committee
Hansard, 21 May 2010, pp 19 and 22.
[31] Mr Serge Duchini, Partner
and Research and Development and Tax Incentives Practice Leader, Deloitte, Proof
Committee Hansard, 21 May 2010, p. 33.
[32] Mr Paul McCullough, General
Manager, Business Tax Division, Department of the Treasury, Proof Committee
Hansard, 20 May 2010, p. 47.
[33] Mr Ken Pettifer, Head of
Division, Innovation Division, Department of Innovation, Industry, Science and
Research, Letter to Committee, 8 June 2010, p. 1.
[34]
Professor Roy Green, Dean, Faculty of Business, University of Technology
Sydney, Proof Committee Hansard, 21 May 2010, p. 19.
[35]
Productivity Commission, Public Support for Science and Innovation,
9 March 2007, p. 10.
[36]
Productivity Commission, Public Support for Science and Innovation,
9 March 2007, p. 11.
[37] Mr Andrew Mihno, Deputy
Executive Officer, International and Capital Markets Division, Property Council
of Australia, Proof Committee Hansard, 21 May 2010, p. 41.
[38] Mr Serge Duchini, Partner
and Research and Development and Tax Incentives Practice Leader, Deloitte, Proof
Committee Hansard, 21 May 2010, pp 33–34.
[39]
Sections 355-25 and 355-30 of Tax Laws Amendment (Research and Development)
Bill 2010, pp 6–7.
[40] Subsection 355-25(2), Tax
Laws Amendment (Research and Development) Bill 2010, p. 6.
[41] Mr Paul McCullough, General
Manager, Business Tax Division, Department of the Treasury, Proof Committee
Hansard, 20 May 2010, p. 47.
[42] Mr David Oliver, National
Secretary, Australian Manufacturing Workers Union, Proof Committee Hansard,
21 May 2010, p. 23.
[43] Mr Ken Pettifer, Head of
Division Innovation Division, Department of Innovation, Industry, Science and
Research, Letter to Committee, 8 June 2010, p. 2.
[44] Mr Kris Gale, Michael
Johnson Associates Pty Ltd, Managing Director, Proof Committee Hansard,
20 May 2010, p. 27.
[45] Minister Carr, Proof
Economics Estimates Hansard, 31 May 2010, p. 56.
[46] Mr Robin Parsons, Partner,
Ernst & Young, Proof Committee Hansard, 21 May 2010, p. 17.
[47] Dr Chris Roberts, Chief
Executive Officer, Cochlear, Proof Committee Hansard, 21 May 2010, p.
12.
[48] NSW Business Chamber, Submission
10, p. 1.
[49]
Cochlear, Proof Committee Hansard, 21 May 2010, p. 14.
[50]
Mr Serge Duchini, Partner and Research and Development and Tax Incentives
Practice Leader, Deloitte, Proof Committee Hansard, 21 May 2010, pp
34-35.
[51] Mr Ken Pettifer, Head of
Innovation Division, Department of Innovation, Industry, Science and Research, Letter
to Committee, 8 June 2010, pp 1-2.
[52] Dr Brendan Shaw, Chief
Executive Officer, Medicines Australia, Proof Committee Hansard, 20 May
2010, p. 3.
[53] Mr Robin Parsons, Partner –
Indirect Tax, Ernst & Young, Proof Committee Hansard, 20 May 2010,
p. 11.
[54] Mr Alastair Hick, Director,
Commercialisation, Monash University, Proof Committee Hansard, 20 May
2010, p. 21.
[55] Explanatory Memorandum,
para 2.35, p. 25.
[56] Australian Information
Industry Association, Submission 26, p. 2.
[57] Michael Johnson Associates,
Submission 5, Attachment 2, p. 10.
Chapter 6 - Complexity and changes
[1]
Dyson, Ingenious Britain, p. 54.
[2]
Dr Peter Burn, Director, Public Policy, Australian Industry Group, Proof
Committee Hansard, 21 May 2010, p. 4.
[3] Mr Gregory Oliver,
Research and Development Analyst, Cochlear Ltd, Proof Committee Hansard,
21 May 2010, p. 12.
[4] Mr Serge Duchini, Partner
and Research and Development and Tax Incentives Practice Leader, Deloitte, Proof
Committee Hansard, 21 May 2010, p. 32.
[5] Corporate Tax Association,
Submission 14, p. 2.
[6] Deloitte, Submission 22,
p. 6.
[7] Mr Serge Duchini, Partner
and Research and Development and Tax Incentives Practice Leader, Deloitte, Proof
Committee Hansard, 21 May 2010, p. 35.
[8]
Explanatory Memorandum, paras 3.134–3.136, p. 86.
[9]
Explanatory Memorandum, p. 86.
[10]
Explanatory Memorandum, p. 87.
[11]
Explanatory Memorandum, pp 86–87.
[12]
Explanatory Memorandum, para 3.148, p. 89.
[13]
Explanatory Memorandum, pp 88–89.
[14]
Mr Paul McCullough, Treasury, Proof Committee Hansard, 20 May 2010,
p. 48.
[15]
Mr Paul McCullough, Treasury, Proof Committee Hansard, 20 May 2010,
p. 48.
[16]
Mr Robin Parsons, Partner – Indirect Tax, Ernst & Young, Proof
Committee Hansard, 20 May 2010, p. 14.
[17] Mr Serge Duchini, Partner
and Research and Development and Tax Incentives Practice Leader, Deloitte, Proof
Committee Hansard, 21 May 2010, p. 39.
[18] Caltex, Submission 3,
pp 3–5.
[19] Aditus Consulting, Submission
16, pp 1–2.
[20] Michael Johnson Associates,
Submission 5, pp 5–6.
[21] Senator the Hon Kim Carr,
Minister for Innovation, Industry, Science and Research, Senate Economics Committee
Hansard, 31 May 2010, p. 53.
[22] Senator the Hon Kim Carr,
Minister for Innovation, Industry, Science and Research, Senate Economics
Committee Hansard, 31 May 2010, p. 54.
Chapter 7 - Administrative and transitional measures
[1] AusIndustry, Guide to the
R&D Tax Concession Part B – Research and Development Activities Version
4.2, July 2008, para B2–1, p. 6.
[2] Mr Peter Thomas, Chair Tax
Concession Committee, Innovation Australia, Proof Committee Hansard, 21
May 2010, p. 49.
[3] Mr Peter Thomas, Chair Tax
Concession Committee, Innovation Australia, Proof Committee Hansard, 21
May 2010, p. 49.
[4] Mr Peter Thomas, Chair Tax
Concession Committee, Innovation Australia, Proof Committee Hansard, 21
May 2010, p. 49.
[5] Explanatory Memorandum,
para 5.2, p. 117.
[6] Explanatory Memorandum,
Tax Laws Amendment (Research and Development) Bill 2010, para 5.5, p. 118.
[7] Deloitte Touche Tohmatsu
Ltd, Submission 22, p. 9.
[8] Confidential Submitter, Submission
15, p. 4.
[9]
KPMG, Submission 9, pp 4 and 20.
[10]
NOAH Consulting, Submission 8, pp 3-4.
[11] Dr Russell Edwards, General
Manager, Department of Innovation, Industry, Science and Research, Proof
Committee Hansard, 20 May 2010, p. 53.
[12] Dr Russell Edwards, General
Manager, Department of Innovation, Industry, Science and Research, Proof
Committee Hansard, 20 May 2010, p. 50.
[13]
Explanatory Memorandum, pp 121–122.
[14]
Explanatory Memorandum, para 5.181, p. 155.
Chapter 8 - Estimated impacts of the bill
[1] Mr Paul McCullough,
General Manager, Business Tax Division, Treasury, Proof Committee Hansard,
20 May 2010, p. 46.
[2] Mr Peter Thomas, Chair,
Tax Concession Committee, Innovation Australia, Proof Committee Hansard,
21 May 2010, p. 51.
[3] Z-Filter, Submission 24,
p. 1.
[4] Mr Paul McCullough and Mr
Gerry Antioch, Business Tax Division, Treasury, Proof Committee Hansard,
20 May 2010, p. 46.
[5] Mr Peter Thomas, Chair,
Tax Concession Committee, Innovation Australia, Proof Committee Hansard,
21 May 2010, p. 50.
[6] Mr Yasser El-Ansary,
quoted by Senator Cameron, Proof Committee Hansard, 20 May 2010,
p. 16.
[7] Ms Tracey Murray, Partner,
BDO Australia, Proof Committee Hansard, 20 May 2010, p. 38.
[8] Mr Paul McCullough,
General Manager, Business Tax Division, Proof Committee Hansard,
20 May 2010, p. 46.
[9]
KPMG, Submission 9, p. 6.
[10]
KPMG, Competitive Alternatives 2010: Special Report: Focus on
Tax, p. 19.
[11]
KPMG, Submission 9, p. 6.
[12] Mr Kris Gale, Managing
Director, Michael Johnson Associates, Proof Committee Hansard,
20 May 2010, p. 27. See also their Submission 5, p. 7 and
Attachment B.
[13]
Advanced Manufacturing Coalition, Submission 2, p.
[14] Mr Robin Parsons, Partner,
Ernst & Young, Proof Committee Hansard, 20 May 2010, p. 13.
[15] Mr Paul McCullough, General
Manager, Business Tax Division, Proof Committee Hansard, 20 May
2010, p. 50.
[16] Mr Gerry Antioch, Manager,
Business Tax Division, Proof Committee Hansard, 20 May 2010, p. 50.
[17] Mr Paul McCullough and Mr
Gerry Antioch, Business Tax Division, Treasury, Proof Committee Hansard,
20 May 2010, pp 58-59.
[18]
Michael Johnson Associates, Submission 5, p. 7.
[19]
Information provided by DIISR.
[20]
Venturous Australia, 2008, p. 101.
[21]
Corporate Tax Association, Submission 14, p. 1.
Dissenting Report by Coalition Senators
[1] Caltex
Australia, Submission 3, page 5.
[2] Australian
Treasury, Tax Laws Amendment (Research and Development) Bill 2010 – 2nd exposure
draft, 31 March 2010, p. 26.
[3] New South
Wales Business Chamber, Submission 10, page 6.
[4] Australian
Industry Group, Submission 19, page 3.
[5] Ernst and
Young, Submission 30, page 9.
[6] Michael
Johnson Associates Pty Ltd, Submission 5, pp 14 – 15.
[7] Mr Kris
Gale, Managing Director, Michael Johnson Associates Pty Ltd, Proof Committee
Hansard, 20 May 2010, page 30.
[8] Dr Peter
Burn, Director, Public Policy, Australian Industry Group, Proof Committee
Hansard, 21 May 2010, page 5.
[9] Mr Sergio
Duchini, Partner and Research and Development and Tax Incentives Practice
Leader, Deloitte, Proof Committee Hansard, 21 May 2010, page 35.
[10] Mr Sergio
Duchini, Partner and Research and Development and Tax Incentives Practice
Leader, Deloitte, Proof Committee Hansard, 21 May 2010, page 35.
[11] KPMG, Submission
9, page 4.
[12] Minerals
Council of Australia, Submission 11, page 13.
[13] Aditus
Consulting, Submission 16, page 2.
[14] Mr Sergio
Duchini, Partner and Research and Development and Tax Incentives Practice
Leader, Deloitte, Proof Committee Hansard, 21 May 2010, page 35.
[15] Dr Russell
Edwards, Ex officio member, Tax Concession Committee, Innovation Australia, Proof
Committee Hansard, 21 May 2010, page 52.
[16] Michael
Johnsons Associates Pty Ltd, Submission 5 – Attachment 1, pp 10 – 12;
KPMG, Submission 9, page 10; Deloitte, Submission 22, page 12,
Document tabled by Mr Serg Duchini (Deloitte) at a public hearing in Sydney on
21 May 2010: "Incorrect bill references in the explanatory
memorandum", Additional Information Received; Ernst and Young, Submission
30, page 10.
[17] Michael
Johnson Associates Pty Ltd, Submission 5, page 3.
[18] Mr Kris
Gale, Managing Director, Michael Johnson Associates Pty Ltd, Proof Committee
Hansard, 20 May 2010, page 28.
[19] Mr Kris
Gale, Managing Director, Michael Johnson Associates Pty Ltd, Proof Committee
Hansard, 20 May 2010, page 28.
[20] Organisation
of Economic Co-operation and Development, Frascati Manual – Proposed
Standard Practice For Surveys on Research and Experimental Development,
OECD, 2002, page 30.
[21] Mr Kris
Gale, Managing Director, Michael Johnson Associates Pty Ltd, Proof Committee
Hansard, 20 May 2010, page 27.
[22] Dr Peter
Burn, Director, Public Policy, Australian Industry Group, Proof Committee
Hansard, 21 May 2010, page 3.
[23] Tax Laws
Amendment (Research and Development) Bill 2010, section 355-25.
[24] Caltex, Submission
3, page 6.
[25] Dr Peter
Burn, Director, Public Policy, Australian Industry Group, Proof Committee
Hansard, 21 May 2010, pp 3 – 4.
[26] Dr Brendan
Shaw, Chief Executive Officer, Medicines Australia, Proof Committee Hansard,
20 May 2010, page 3.
[27] Mr Ian
Ross-Gowan, Manager, Michael Johnson Associates Pty Ltd, Proof Committee
Hansard, 20 May 2010, page 29.
[28] Tax Laws
Amendment (Research and Development) Bill 2010, section 355-30
[29] Caltex, Submission
3, page 6.
[30] Mr Innes
Willox, Director, Government and International Relations, Australian Industry
Group, Proof Committee Hansard, 21 May 2010, page 7.
[31] Mr Gregory
Oliver, Research and Development Analyst, Cochlear Ltd, Proof Committee
Hansard, 21 May 2010, page 13.
[32] Australian
Industry Group, Submission 19, page 7.
[33] Australian
Industry Group, Submission 19, page 7.
[34] Australian
Industry Group, Submission 19, page 7.
[35] Australian
Industry Group, Submission 19, page 7.
[36] Ms Tracey
Murray, Partner, Research and Development, BDO Australia, Proof Committee
Hansard, 20 May 2010, pp 39 – 40.
[37] Mr Gregory
Oliver, Research and Development Analyst, Cochlear Ltd, Proof Committee
Hansard, 21 May 2010, page 12.
[38] Mr Sergio
Duchini, Partner and Research and Development and Tax Incentives Practice
Leader, Deloitte, Proof Committee Hansard, 21 May 2010, page 32.
[39] Ms Deborah
Monk, Director, Innovation and Industry Policy, Medicines Australia, Proof
Committee Hansard, 20 May 2010, pp 4 – 5.
[40] Mr Robin
Parsons, Partner, Indirect Tax, Ernest and Young, Proof Committee Hansard,
20 May 2010, page 12.
[41] Michael
Johnson Associates Pty Ltd, Submission 5 – Attachment 2, page 23.
[42] Michael
Johnson Associates Pty Ltd, Submission 5 – Attachment 2, page 23.
[43] NOAH
Consulting, Submission 8, page 3.
[44] KPMG, Submission
9, page 7.
[45] Deloitte, Submission
22, pages 2 and 7.
[46] Property
Council of Australia, Submission 28, page 7; Deloitte, Submission 22,
page 7.
[47] Ernst and
Young, Submission 30, page 4.
[48] Ernst and
Young, Submission 30, pp 4 – 5.
[49] NOAH
Consulting, Submission 8, page 3; KPMG, Submission 9, page 7.
[50] Corporate
Tax Association, Submission 14, page 2.
[51] Ernst and
Young, Submission 30, page 5.
[52] Ernst and
Young, Submission 30, page 5.
[53] KPMG, Submission
9, page 7.
[54] KPMG, Submission
9, page 7.
[55] Tax Laws
Amendment (Research and Development) Bill 2010, section 355–5.
[56] Corporate
Tax Association, Submission 14, pp 1–2.
[57] Corporate
Tax Association, Submission 14, page 2.
[58] Advanced
Manufacturing Coalition, Submission 2, page 2
[59] Mr Kris
Gale, Managing Director, Michael Johnson Associates Pty Ltd, Proof Committee
Hansard, 20 May 2010, page 28.
[60] Dr Peter
Burn, Director, Public Policy, Australian Industry Group, Proof Committee
Hansard, 21 May 2010, page 4.
[61] New South
Wales Business Chamber, Submission 10, page 1.
[62] Dr
Christopher Roberts, Chief Executive Officer, Cochlear Ltd, Proof Committee
Hansard, 21 May 2010, page 14.
[63] Mr Sergio
Duchini, Partner and Research and Development and Tax Incentives Practice
Leader, Deloitte, Proof Committee Hansard, 21 May 2010, page 33.
[64] Mr Andrew
Chia, Group Tax Manager, Cochlear Ltd, Proof Committee Hansard, 21 May
2010, page 17.
[65] Professor
Roy Green, Dean, Faculty of Business, University of Technology Sydney, Proof
Committee Hansard, 21 May 2010, page 20.