Xinja chief Eric Wilson says more clarity is needed on how to prepare R&D tax incentive claims.
"What I’d really love to see above everything else is clarity. We can work within most environments - but you just need to know what they[the rules] are."
InFebruary,a Senate committee reviewed the changes and recommended impacts on startups be reviewed further before it was implemented. This week,the government committed to revisiting the changes but the timeline was unclear.
"The Senate Economics Committee found that R&DTI reform is needed and we agreed with the committee’s recommendations regarding technical refinements,and that work is underway,"Treasurer Josh Frydenberg said in a statement toThe Age and Sydney Morning Herald.
Startups feel anxiety about the policy for two reasons. Without knowing how the reforms will progress,it is difficult for them to know whether the limits of the scheme will change in the near future.
The rules about which activities are eligible as claims are also complex,with entrepreneurs such as Mr Wilson saying it is difficult to work out a claim without employing expert help.
"It’s complex enough that you have to pay consultants quite a bit of money to claim it,"he said.