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n Tax Breaks Newsletter - More generous tax deductions for scientific and technological R&D : tax deductions

Volume 2006, Issue 250
  • ISSN :
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Abstract

Extracted from text ... TAX DEDUCTIONS Moneyweb's TAX BREAKS November 2006 3 MORE GENEROUS TAX DEDUCTIONS FOR SCIENTIFIC AND TECHNOLOGICAL R&D A NEW, more generous regime governing tax deductions for expenditure incurred on or after 2 November 2006 in respect of scientific or technological research and development has been proposed by the Draft Revenue Laws Amendment Bill 2006. The new regime has two sets of incentives, the first for "operating costs" (such as salaries of R & D staff) and the second for buildings, machinery and equipment used in research and development. In respect of operating costs, the deduction under the new section 11D will be equal to 150 per cent of any expenditure incurred by a taxpayer in the Republic for purposes of "the discovery of novel, practical and ..

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/content/montb/2006/250/EJC78309
2006-11-01
2016-12-09

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