Домой United States USA — software Innovation agenda's intangible asset depreciation binned as Canberra saves AU$425m

Innovation agenda's intangible asset depreciation binned as Canberra saves AU$425m

334
0
ПОДЕЛИТЬСЯ

Lack of parliamentary support for Turnbull’s initiative sees the Australian government bank AU$425 million over the next three years.
The proposed ability for companies to be able to self-assess the effective life of certain intangible depreciating assets has been dropped, allowing the Australian government to keep a hold on AU$425 million in revenue it would have lost had it come into effect.
«Given the lack of parliamentary support the government has decided not to proceed with this measure to provide certainty to business,» the government said in its Mid-Year Economic and Fiscal Outlook (MYEFO) for 2018-19 released on Monday.
The range of assets the change would have applied to included patents, registered designs, copyright, in-house software, spectrum licence, and telecommunications site access rights.
The measure was part of then-newly-installed Prime Minister Malcolm Turnbull’s AU$1.1 billion National Innovation and Science Agenda .
MYEFO also revealed a cost of AU$564 million to the government’s revenue that resulted from the delay to the start of the Regional Broadband Scheme .
Due to the legislation establishing that the Regional Broadband Scheme (RBS) charge to subsidise the National Broadband Network’s (NBN) loss-making satellite and fixed-wireless services not being cleared by Parliament before the summer break, the government will see its receipts drop by AU$564 million this financial year.
This drop will be followed by AU$16 million, AU$20 million, and AU$19.7 million expenses in the following years.
The government said the monthly charge to fixed-line broadband customers would now not start until July 1,2019 at the earliest.
Read also: Australia’s 2018 Budget: How the federal government is funding and adopting tech (Free PDF)
The total cost to the budget was pinned at AU$0.1 million over the forward estimates due to the levy being passed onto NBN.
«This difference occurs because the charge would apply from 2019-20 but payments to NBN Co would not begin until 2020-21,» MYEFO said.
The papers also flagged an August amendment to the government’s AU$20 billion loan to NBN, first announced in November 2016.

Continue reading...