Richard Colbeck (Tasmania, Liberal Party, Shadow Parliamentary Secretary for Fisheries and Forestry) Share this | Hansard source

by leave—I move opposition requests (3) and (4) on sheet 7011:

(R3) Schedule 1, item 1, page 7 (line 14), omit “(1)”.

(R4) Schedule 1, item 1, page 7 (lines 16 to 21), subsection 355-30(2) TO BE OPPOSED.

The statement of reasons accompanying the requests read as follows—

Amendments (R3), (R4), (R5) and (R6)

The effect of these amendments will be to allow an increase in the number of claimants for tax deductions for research and development expenditure and to allow an increase in the amounts that can be claimed as tax deductions for research and development expenditure. This will increase amounts paid out under a refundable tax offset, which would be met from the standing appropriation in section 16 of the Taxation Administration Act 1953, and the amendments are therefore presented as requests.