CARR DITHERS ON R&D
28-October-2010
28 October 2010
CARR DITHERS ON R&D
Innovation Minister Kim Carr has lost his nerve again on making changes to Australia’s research and development (R&D) tax incentive system.
In a baffling retreat, Mr Carr has removed his infamous Tax Laws Amendment (Research and Development) Bill without explanation from the Government’s legislative program for the second time this year.
This follows his refusal to put this Bill to a vote in the Senate before the last election.
Mr Carr has repeatedly claimed the Bill needs to be introduced without delay. Indeed, such is the alleged urgency of its passage through Parliament that he has even sought to make it retrospective to 1 July 2010.
But, after it was initially listed on the schedule, it has again disappeared without trace from the parliamentary schedule for the current sitting fortnight.
Sadly, this continues to leave thousands of affected businesses confused not only about whether the laws will still change but also from when any revisions would potentially take effect.
Mr Carr is also refusing to engage in constructive dialogue with the Coalition to sensibly amend the Bill and significantly improve its impact for Australian innovators.
Labor’s intransigence, confusion and (now) paralysis on this issue must end.
It must urgently bring on a parliamentary debate, or bow to the pressure of the business community and the Coalition to alter or scrap this retrograde legislation which will radically diminish support for R&D investment.