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New Industry and Science Minister Ed Husic Meets with Tech Sector Leaders Ahead of September Jobs and Skills Summit

August 22nd, 2022

StartupDaily has reported that over the past week, the new Minister for Industry and Science, Ed Husic, has held discussions with industry leaders covering themes including: Science and commercialisation (August 17) Digital and tech skills (August 17) Advanced manufacturing (August 18) Artificial intelligence (August 19). The discussions come ahead of the new Government’s planned Jobs and Skills Summit to be held by stakeholders in September. Before the election, the new Industry Minister made some encouraging comments about the R&D Tax […]

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Telix Pharmaceuticals becomes Australian Biotech Success Story after being one of largest Refundable R&D Tax Offset Recipients

August 15th, 2022

Melbourne-based Telix Pharmaceuticals has been one of the largest recipients of the R&D Tax incentive, and has now achieved a rare feat in Biotechnology;  commercialising a product, and continuing to grow. The company reportedly received a more than $12M R&D tax offset refund for activity undertaken during the year ended 31 December 2020, and more than $11M in the preceding period, for their work on cancer diagnostic and treatment. Telix Pharmaceuticals’ technology uses radio pharmaceuticals to travel through the blood […]

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Productivity Commission Review of Industry Assistance and Upcoming Federal Budget

August 8th, 2022

The Productivity Commission is the Australian Government’s independent research and advisory body on a range of economic, social and environmental issues affecting the welfare of Australians. It states its role is to help governments make better policies, in the long term interest of the Australian community. In early August 2022, The Productivity Commission published its annual review of trade and assistance which it notes is to keep a record of assistance. Some notable extracts from The Productivity Commission annual review relevant […]

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TPB Confirms Assisting With R&D Matters Constitutes a Tax Agent Service

August 5th, 2022

The Tax Practitioners Board (TPB) recently published Exposure Draft TPB Information Sheet TPB(I) D48/2022 What is a tax agent service? The document seeks to provide information regarding the TPB’s position on the application of subsection 90-5 of the Tax Agent Services Act 2009 (TASA), containing the definition of a tax agent service. Advisors that provide tax agent services for a fee or other reward must be registered with the TPB. Being registered with the TPB presents requirements around qualification and experience in tax […]

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