❓ A WA parliamentary question regarding the impact of federal R&D tax incentive changes on Carnegie Clean Energy's Albany wave energy project, specifically seeking information on advice received by the Minister for Regional Development.
AnsweredQoN 1014Legislative Council
QuestionView source ↗
ALBANY WAVE ENERGY
PROJECT — CARNEGIE CLEAN ENERGY —RESEARCH AND DEVELOPMENT TAX
INCENTIVES
1014. Hon PETER COLLIER to the Minister for Regional Development:
I refer to the minister's
media release dated 5 October 2018 regarding Carnegie Clean Energy and the minister's
claims that it is —
� clear that the Federal Government's
proposed changes to research and development tax incentives have affected the
company's finances.
(1) Did the
minister receive any advice regarding the impact of the changes to the federal
government's R&D arrangements on Carnegie Clean Energy? If yes,
when and from whom; and, if not, why not?
(2) Did the
minister or anyone from her office or department seek advice from the federal
government regarding the impact of the changes on Carnegie Clean Energy?
(3) If yes to (2), will the minister
table that advice; and, if not, why not?
(4) If no to (2), why was no advice
sought from the federal government?
(5) If no to (2),
what was the basis upon which the statement was made in the media release ''that
the Federal Government's proposed changes to research and development
tax incentives have affected the company's finances''?
PROJECT — CARNEGIE CLEAN ENERGY —RESEARCH AND DEVELOPMENT TAX
INCENTIVES
1014. Hon PETER COLLIER to the Minister for Regional Development:
I refer to the minister's
media release dated 5 October 2018 regarding Carnegie Clean Energy and the minister's
claims that it is —
� clear that the Federal Government's
proposed changes to research and development tax incentives have affected the
company's finances.
(1) Did the
minister receive any advice regarding the impact of the changes to the federal
government's R&D arrangements on Carnegie Clean Energy? If yes,
when and from whom; and, if not, why not?
(2) Did the
minister or anyone from her office or department seek advice from the federal
government regarding the impact of the changes on Carnegie Clean Energy?
(3) If yes to (2), will the minister
table that advice; and, if not, why not?
(4) If no to (2), why was no advice
sought from the federal government?
(5) If no to (2),
what was the basis upon which the statement was made in the media release ''that
the Federal Government's proposed changes to research and development
tax incentives have affected the company's finances''?
AnswerView source ↗
I thank the member for the question.
(1)–(5) Following
the release of the 2018–19 federal budget, at least three Western Australian
companies—Carnegie Clean Energy, Northern Minerals and Lithium
Australia—have raised this issue with me, some verbally and some in
writing. I was advised by the Department of Primary Industries and Regional Development
of the potential for the proposed changes to impact on the delivery of the
Albany wave energy project. Having understood these issues, I wrote on two
occasions to the federal government urging it to reconsider its plan to place a
cap on R&D concessions. I am yet to receive a response to these letters. This proposed legislative change has been
referred to the Senate Economics Legislation Committee, which is due to
report back in early December.
(1)–(5) Following
the release of the 2018–19 federal budget, at least three Western Australian
companies—Carnegie Clean Energy, Northern Minerals and Lithium
Australia—have raised this issue with me, some verbally and some in
writing. I was advised by the Department of Primary Industries and Regional Development
of the potential for the proposed changes to impact on the delivery of the
Albany wave energy project. Having understood these issues, I wrote on two
occasions to the federal government urging it to reconsider its plan to place a
cap on R&D concessions. I am yet to receive a response to these letters. This proposed legislative change has been
referred to the Senate Economics Legislation Committee, which is due to
report back in early December.
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