Government Policy and Treasury

The Government’s Research and Development Blind Spot

February 2nd, 2015

When it comes to science and Research and Development, other countries are hitting the accelerator while Australia is shifting into reverse. During the Prime Minister’s prizes for Science, held at Parliament House last October, Tony Abbott delivered his speech in front of Australia’s best and brightest minds and left the stage with a barely audible applause. Abbott, who had been in office for just over a year, was surprised he received some form of applause after his Government implemented drastic […]

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Entrepreneurial Ecosystems and the Role of Government Policy

January 27th, 2015

As the 2014 G20 Leaders Summit drew to a close in November, the final statement from the nations representatives called for enhancements to Australia’s economic growth achieved through the “promotion of competition and innovation and the coordination of strategies to reduce unemployment, particularly amongst youth, through entrepreneurship”. While it may sound prospective, this theme of driving economic and job growth through entrepreneurship isn’t new. A 1979 report by Professor David Birch of MIT, titled ‘The Job Generation Process’, recommended government […]

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Patent Grant Program featured in The Australian Financial Review

October 15th, 2014

The Australian Financial Review recently featured Swanson Reed and the proposed Patent Grant Program in Tuesday’s release. The article Innovation crisis a matter of urgency, tax advisers say addresses the innovation crisis looming if the Australian Government does not act soon on policy to encourage investment in innovation. Swanson Reed collaborated with Wrays, intellectual property and patent advisers, to propose a patent grant system as an interim measure until the deadlock on introducing the UK-style-patent-box incentives breaks. Treasurer Joe Hockey echoed concerns by […]

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Patent Grant Program – Australia’s Patent Box Solution

October 7th, 2014

Recent research has indicated that 1000 extra patents per year (that otherwise would not have been filed) could add up to $7 Billion extra GDP per year in the Australian economy. It has been proposed that a new type of government endorsed grant program aimed to offset the cost of patent filing, could be Australia’s answer to the recent U.K. Patent Box controversy.   Why would a Patent Grant Program be more appropriate than a Patent Box tax incentive? It has been argued that Australia should […]

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