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Government Policy and Treasury

Industry Minister Comments on R&D Policy Leading into Budget

May 2nd, 2023

May 2023 will mark the Labor government’s second budget in this term, as the budget moves back to its traditional May timing. Leading into the budget time, whether the R&D Tax Incentive is effective, or should be tinkered with (including by changing it to a grant or Government assessment/merit system, rather than broad based self assessment) is often raised by some in the media, politics or academia. An article published by the AFR in late March 2023 included comments from […]

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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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Australian Patent Box Tax Incentive Appears Not to be Proceeding

November 16th, 2022

The previous Coalition Federal Government had first announced that it planned to introduce a patent box tax incentive for eligible income associated with new patents in the medical and biotechnology sectors in the May 2021 federal budget.   The legislation to enact this was introduced to the lower house in February 2022 (with a proposed start date of July 2022), but was not passed as law before the federal election.   There is now a new Labor Government following the federal election and in […]

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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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