Explanatory Memorandum
(Circulated by the authority of Senator the Honourable John N Button, Minister for Industry, Technology and Commerce).FINANCIAL IMPACT
8 To the extent that the amendments are successful in stimulating R & D which would not otherwise have been undertaken during the deduction period (ie prior to 30 June 1991), there will be some additional tax revenue loss in the fiscal year 1988/89 and the three following years. There will be offsetting savings due to the tightening up of provisions to limit avenues by which the 150% tax concession may be exploited otherwise than as intended.
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