Australia Proposes Ban on R&D Tax Credits for Tobacco, Gambling

Australia would ban access to research and development tax offsets for gambling and tobacco-related research under new legislation introduced in the Lower House on Wednesday.

Taxpayers would no longer subsidize R&D that could exacerbate serious health risks, addictions and associated harms, Assistant Treasurer Daniel Mulino told the House in introducing the proposal.

The exclusions would apply broadly, capturing R&D related to all types of gambling and any tobacco, he said, though a carve-out has been included to ensure harm minimization research, such as stopping addiction, remained eligible for tax offsets.

R&D tax ...