Indeed, summer is well and truly upon us when the metal of a seatbelt brands you or the concept of dreadlocks, as an attempt to control humidity hair frizz, is becoming increasingly appealing. Undeniably, summer in Australia is notoriously hot, humid, and wet – or all three at once. Certainly, we’ve been taught since we were young to not underestimate the concept of humidity: it can make a warm day feel much hotter and is almost a trademark weather forecast for […]
In the case of JLSP v Innovation Australia [2016] AATA 23 the Administrative Appeals Tribunal (AAT) considered whether particular activities conducted by the applicant are “core R&D activities” within s 355-25(1) of the Income Tax Assessment Act 1997 (the ITAA 1997). Specifically, the matter sought to assess whether a clinical trial carried out in accordance with a contractual agreement was conducted for the purpose of generating new knowledge. Background The applicant company is an Australian-based entity in an international corporate […]
From the cochlear implant, otherwise known as the bionic ear, to the medical application of penicillin, Australia actually has a rich history in science research and development (R&D). In fact, a new report by the Australian Academy of Science reveals that over the past twenty to thirty years, scientific advances have contributed to an estimated $330 billion of Australia’s economic growth. As the report reveals, this figure represents about a quarter of the national economy. Furthermore, the report found the […]
Certainly, the Australian government has been keen on innovation, as embodied in its announcement of its National Innovation and Science Agenda in December. However, is our workforce ready for an innovation overhaul as we embark on the ‘ideas boom’ in 2016? According to Randstad’s World of Work Report, based on 14,000 employees and employers from across Asia-Pacific, the biggest issue for the region’s businesses was the lack of talent that was required to expedite the innovation process. In fact, nearly a […]