Labor to exclude gambling and tobacco from R&D tax incentive
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The news: The Albanese government will legislate to exclude activities related to gambling and tobacco from research and development tax incentive eligibility, according to exposure draft legislation released today.
The context: The exclusions will apply broadly, capturing research and development related to all types of gambling and any tobacco or nicotine products from 1 July 2025.
Assistant Treasurer and Minister for Financial Services Daniel Mulino said the exclusions will "ensure taxpayers are not subsidising this kind of research and development that can exacerbate serious health risks, addiction and associated harms".
A carve-out will apply for R&D activities that are conducted solely for harm minimisation, such as reducing addiction, ensuring these activities remain eligible to receive support under the program.
The source: Treasury media release
