Tribune’s note

Minister Ayres released a budget-day media release jointly with Treasurer Chalmers announcing a suite of tax and investment reforms designed to lift business innovation and productivity. The centrepiece measures are a two-year loss carry-back for companies up to $1 billion turnover from July 2026, expanded venture-capital incentives from July 2027, and a retargeted R&D Tax Incentive with higher offset rates from July 2028.

The package also makes the $20,000 instant asset write-off permanent and commits over $39.1 billion to research and development across scientific agencies, defence and agriculture. A new National Resilience and Science Council is to be established to coordinate public innovation investment with national economic objectives.

Primary records (1)

The official records this note draws on — the raw primary documents themselves, as published.

MediaSenator the Hon Tim AyresTim AyresTuesday 12 May 2026