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. 04.02.2019
    04.02.2019
    by      In
    Over the last 40 years, Australian manufacturing has maintained its strength, resilience and adaptability through many challenges and transitions. Some may even say they’ve maintained that strength as a result of those challenges. These continue with fluctuations in the Australian dollar, the... Read More
  2. 31.01.2019
    31.01.2019
    by      In
    Government has a unique purchasing power, because the choice a government makes when it awards a contract to a successful tenderer becomes a powerful driver of economic activity.
    Successful bidders need suppliers, and procurement contracts grow their businesses too, expanding Australia’s industrial... Read More
  3. 29.10.2018
    29.10.2018
    by      In
    Earlier this month, I visited the state of the art Clayton precinct of Australia’s national science agency, CSIRO in Melbourne. This is one of CSIRO’s largest sites, with 1200 of Australia’s best and brightest researchers working there.
    Much of CSIRO’s manufacturing, engineering and biomedical... Read More
  4. 22.10.2018
    22.10.2018
    by      In
    Last week, the Industry, Science and Technology Minister, Karen Andrews, made an announcement that indicates a belated change of mind by the Government. The minister unveiled a $5 million programme to encourage graduate engineers to work in Australia’s automotive sector.
    Under the programme,... Read More