On 8 May 2018, the Government announced it will reform the Research and Development Tax Incentive (R&DTI) to better target the program and improve its integrity and fiscal affordability in response to the recommendations of the 2016 Review of the R&D Tax Incentive. These changes will apply for income years starting on or after 1 July 2018. The exposure draft legislation and associated explanatory materials outline the Government’s proposed implementation of the reforms. The Government welcomes stakeholder feedback on the exposure draft legislation and associated explanatory materials. In addition, an accompanying consultation paper outlines key areas where the Government requests specific feedback on the implementation of the reforms.