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Industry Minister Comments on Business Investment in R&D and Our Call for Maintaining Stability of the R&D Tax Incentive

March 6th, 2023

The freshly appointed Minister for Industry and Science, Ed Husic, recently held a press conference with Chief Scientist, Dr Cathy Foley, regarding the National Science and Research Priorities and the proposed National Reconstruction Fund, which the Labor Government are seeking to pass through the parliament. During this conference Ed Husic was quoted as stating: The amount that we invest in R&D in this country relative to the OECD, we have about 1.8 per cent relative to GDP investment in R&D […]

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Statutory Deadline for FY22 R&D Claims is Next Month

March 1st, 2023

Companies seeking to register R&D Activities conducted during the Year Ended 30 June 2022 (companies that have a standard YE for tax) who are yet to do so should note that the standard Registration Deadline is 10 Months after YE, and 30 APRIL 2023. The blanket and automatic extensions granted during COVID do NOT apply any longer or for FY22 claims. Ausindustry has recently announced that due to interaction of weekends and public holidays with the day of the standard Registration Deadline, for the FY22 […]

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‘Pick a policy and stick to it’: CSL’s CEO calls for stability on innovation incentives.

February 16th, 2023

CSL is one of Australia’s greatest business and technical success stories and its shares have provided one of the best returns on the ASX among listed companies over the past decade. CSL has also been a very strong advocate of the R&D Tax Incentive and lobbied for maintenance of a strong and stable incentive to encourage local investment in R&D. In an article published in The Australian Financial Review, Paul Perreault, the CEO of CSL, says a bipartisan approach is needed to innovation […]

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Upcoming Senate Debate Over Reconstruction/Manufacturing fund

February 13th, 2023

Leading up to the 2022 federal election, the (then) Opposition Leader Anthony Albanese pledged in early 2022 that he would use Labor’s proposed $15 billion National Reconstruction Fund to make medical technology and local manufacturing investments a top priority. Labor went on to win the election, and are now looking at legislative measures to enact the fund. The National Reconstruction Fund proposes a financing vehicle to specifically drive investment in projects seeking to build prosperity across the country, providing loans, […]

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