none
none

BUSINESSES IN LIMBO AFTER ANOTHER YEAR OF R&D TAX UNCERTAINTY

04-04-2017
by 
in 

Today marks the one-year anniversary since the review of the R&D Tax Incentive was handed to the Turnbull Liberals – but innovative companies still have no idea whether the Government is planning yet more cuts to the scheme.

On 4th April 2016, Bill Ferris, Dr Alan Finkel and John Fraser handed their review to the then Minister for Industry, Christopher Pyne.

Since then, the review has been passed around to not one, not two, but three different Industry Ministers, like a hot potato.

The review makes a number of recommendations for changes to the R&D Tax Incentive, some which could dramatically reduce the benefit for innovative firms and manufacturers.

Australian firms and researchers are sick of the mixed signals from this Government.

The Liberals talk about supporting businesses and growth, but are unable to provide any certainty about one of the most important policy instruments for leveraging private investment in R&D.

Innovative companies need policy stability to make long-term investments in research and development.

If Malcolm Turnbull is serious about innovation, he should come clean on his intentions for the R&D Tax Incentive.

Related news & editorials

  1. Senator Kim Carr
    16.10.2017
    16.10.2017
    by      In
    Earlier this month, the last Australian-built Camry rolled off Toyota’s production line at Altona in Victoria. And shortly, the last Australian-built Commodore will emerge from Holden’s assembly plant at Elizabeth in South Australia.
    This is not only the closure of two factories. The shutdown of... Read More
  2. Senator Lee Rhiannon
    16.10.2017
    16.10.2017
    by      In
    The Australian automotive industry is at a crossroad. One path continues on a trajectory of decline, with skills and jobs losses, the other path forges a new path of stability, workers’ rights and innovation.
    Climate change is impacting on the automotive industry, with a necessary shift away from... Read More
  3. 17.08.2017
    17.08.2017
    by      In
    Despite a series of high-profile resignations leading to the disbanding of Trump's entire Manufacturing Jobs Council, the Republican party's strategy towards business and deregulation appears unlikely to change. 
    While many saw the resignations of prominent CEOs, such as Denise Morrison of... Read More
  4. Senator Arthur Sinodinos
    16.08.2017
    16.08.2017
    by      In
    Manufacturing in Australia and around the world is turning the corner. It’s turning the corner in a smart, advanced way, creating opportunities that the nation must grasp.
    The tide of change occurring in the sector—and the opportunities arising from this change—was a central theme of my address to... Read More