Australia’s proposal to ban companies from claiming research and development offsets for gambling and tobacco-related activities would unintentionally bar other industries from the benefits, tax professionals say.
Third parties that provide services to those industries could fall subject to the ban because of the breadth of its definition of “relevant activities” and the narrowness of its one exemption, the professionals said in response to a consultation that closed Friday.
“This is not just about casinos or tobacco companies: Technology providers, software developers, and data analytics firms operating in adjacent ecosystems could also be caught,” Certified Practicing Accountants Australia
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