Where qualifying expenditure is between $ 15 million and $ 50 million, 70 % of total expenditure must be spent on production activity in Australia.
2.
The draft Finance Bill 2013 legislation allowed for qualifying expenditure incurred after 1 April 2013 to be eligible for the reliefs subject to State aid approval by the European Commission.
3.
And with effect for qualifying expenditure incurred after 1 April 2013, the government introduced a new Research and Development Expenditure Credit ( RDEC ) which operates above the tax line, and until 2016, alongside the existing superdeduction scheme.
4.
The RDEC scheme makes it possible for large companies to claim a payable tax credit at a rate of 10 per cent of qualifying expenditure ( rising to 11 per cent of qualifying expenditure incurred from 1 April 2015 ).
5.
The RDEC scheme makes it possible for large companies to claim a payable tax credit at a rate of 10 per cent of qualifying expenditure ( rising to 11 per cent of qualifying expenditure incurred from 1 April 2015 ).
6.
The Chancellor of the Exchequer announced in his 2014 Autumn Statement that the super deduction rate for the SME relief regime has been increased from 225 % to 230 %, on expenditure incurred from 1 April 2015, providing a benefit of 26 % of the qualifying expenditure.
7.
In addition, K & N Kenanga pointed out that the company has at end-1997 RM2 million in tax losses, RM17 million in unclaimed capital allowances and RM40 million in qualifying expenditure ( reinvestment allowances ) that will enable it to offset against income tax once its pioneer status ends.
8.
In addition, K & AMP; N Kenanga pointed out that the company has at end-1997 RM2 million in tax losses, RM17 million in unclaimed capital allowances and RM40 million in qualifying expenditure ( reinvestment allowances ) that will enable it to offset against income tax once its pioneer status ends.
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