Undeniably, we live in the so called “digital age”. Innovation has formed an important role in our modern society and has been touted as the blueprint to success by the Turnbull government. It plays a key role for medical and environmental improvements, and by its commercialisation, the digital industry also has potential material economic impact. Thus, it is crucial to fully understand innovation’s drivers and processes – from both a socio-economic and a business perspective. Within this scope, adequacy financing […]
In launching the National Innovation and Science Agenda last year, the Australian Government announced that they would be undertaking a review of the Research and Development (R&D) Tax Incentive programme to make it better accessible to the business sector. At present, the review is currently underway and it is expected to report to Government in April 2016. Proposing the question, does Australia’s R&D Tax Incentive need changing? The Current Performance In its current form, Australia has a competitive R&D tax […]
From finding a $20 note in your back pocket to discovering a gold mine of spare change lurking in the cushions of your sofa, undeniably, the act of finding money is exhilarating. Your mind wanders as you begin to envision the endless possibilities available to you and your new found money. However, in the back your mind, a lingering voice pries, “are there other saving opportunities I may be missing out on?’ As a start-up you may be disregarding savings […]
When it comes to policies bridging the gap between the ‘laboratory’ and the marketplace, companies will typically look to either grant funding or tax incentives. Previously, we’ve delved into the differences between government grants and the Research and Development (R&D) tax incentive in Australia. However, where support for R&D is called for, an important question remains: should reliance by placed on cash support (grants), or on the tax system as a mechanism to deliver credits or allowances (or a combination […]