Large international companies bring jobs to Australia in terms of sales, marketing and customer support. However, more jobs could be created if they also increased their R&D spend here. Why should multinational corporations undertake R&D in Australia? First off, they can take advantage of our top graduates. Australia has eight universities among the top 200 in the world and numerous companies are already partnering with Australian universities to develop innovative products. However, compared with countries like Korea, Germany, Israel and the […]
As a relief to many, no adverse changes were proposed to the R&D Tax Incentive within the Federal Budget delivered by the government on May 9. The R&D Tax Incentive has played an important role in attracting investment to Australia, particularly in knowledge intensive industries. It has also provided small business valuable working capital in the early stages of their life cycle. The government is still yet to respond to the Ferris, Finkel & Fraser review which recommended potential adverse […]
The registration deadline for the R&D tax incentive is less than a week away. This year, registrations are due on Monday, 1 May 2017, as 30 April falls on a Sunday. Companies who cannot lodge their application before this date can contact AusIndustry to request an extension. If received before the deadline, the business may be granted an extension of 14 days. The R&D Tax Incentive aims to boost competitiveness and improve productivity across the Australian economy. The tax credit […]
At a time when aging populations and the environmental challenges of climate change are in need of innovative solutions the decline in public-backed science and technology research is a concern. Data from the Organisation for Economic Co-operation and Development (OECD) shows the first fall of R&D spending in government and higher education in 2014 since the organisations conception in 1981. The OECD Science, Technology and Innovation Outlook Report showed increased R&D spending from 2000 […]