Australia’s R&D Tax Incentive and Clinical Sector To Be Showcased During JP Morgan Week

December 7th, 2020

AusBiotech’s virtual showcase during JP Morgan week in January 2021 will seek to highlight the advantages of partnering with Australian life science companies and utilising the R&D Tax Incentive.

Australia has become an attractive location for the conduct of clinical trials in recent years, based on local capability and infrastructure offering companies the ability to attain high-quality clinical data.

Australia’s 43.5% Refundable R&D Tax Offset has further made the country an attractive destination for the conduct of clinical research.

Ausbiotech’s showcase will seek to highlight how Australia’s R&D Tax Incentive offers an attractive environment for companies from around the world to develop their intellectual property in Australia.

When seeking to access Australia’s generous R&D Tax System, international companies should seek advice on their own circumstances, and relevant factors include:

  • Whether global group turnover is less than $20M AUD, which is a requirement for accessing the 43.5% Refundable R&D Tax Offset;
  • Whether the global parent entity is located in a country with which Australia has a double tax agreement;
  • A decision of whether to incorporate a company in Australia or to carry on business in Australia through a permanent establishment (subject to meeting the relevant criteria);
  • If an Australian subsidiary entity is set up, a decision of whether the Australian subsidiary will conduct R&D activity on its own behalf, or on behalf of the global parent entity.

More information is also available on the ATO website.

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