Budget 2018-19

Budget 2018-19

Find out about the proposed changes and initiatives for business as announced as part of the Budget 2018-19.

The Australian Government announced its 2018-19 Budget on Tuesday, 8 May 2018.

There are a number of initiatives for Australian businesses.

Changes to the R&D Tax Incentive

There are a number of changes to the R&D Tax Incentive.

Further information about the changes is available on budget.gov.au

The changes are in response to the findings of the 2016 Review of the R&D Tax Incentive.

The changes will affect companies accessing the R&D Tax Incentive with income years commencing on or after 1 July 2018.

Read about the R&D Tax Incentive.

Other initiatives for business

  • $20 million to help SMEs form local and regional hubs so they can team up to break into new export markets and supply chains
  • $20 million to support businesses, entrepreneurs and researchers find opportunities in Asia and beyond and extend the Australia-India Strategic Research Fund to foster collaboration
  • $29.9 million to upskill Australian businesses and workers in artificial intelligence and machine learning, including through AI-focused Cooperative Research Centre Projects and a national AI standards and ethics framework.

Find out about other initiatives for businesses:

Original article appeared first at Business.gov.au >

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