Australia Eyes Denying Gambling, Tobacco Firms R&D Tax Offsets

Australia is seeking to ban access to research and development tax offsets for most business activity involving gambling or tobacco sales.

The ban would take effect retroactively from July 1, 2025, and carve out R&D activities that are solely for harm minimization, such as reducing addiction, according to the bill released for consultation Monday.

The exclusions would be broadly applied to all types of gambling and any tobacco or nicotine products to ensure taxpayers aren’t subsidizing R&D that exacerbated health risks, addiction and associated harms, Assistant Treasurer and Minister for Financial Services Daniel Mulino said in a press release ...