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Government Policy and Treasury

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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Media Coverage of Change in Government Implications for the R&D Tax Incentive

June 1st, 2022

Going into the federal election held on 21 May 2022, it was not expected that the R&D Tax Incentive was to be impacted (in the short term at least), and there were not any announcements during the campaign that have been R&D tax specific. This was so, since recent legislative amendments to the R&D Tax Incentive had only recently commenced after the October 2020 bi-partisan enactment of the underlying law, and it would be unlikely for further change to happen […]

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State of R&D Tax Policy Heading into Federal Election

May 16th, 2022

The federal election is due to be held Saturday, 21 May 2022. Thankfully, after years of instability and uncertainty, it is not expected that the R&D Tax Incentive will be impacted by the upcoming election campaign (in the short term at least), and there have not been any R&D Tax specific announcements. This is the case, as recent legislative amendments to the R&D Tax Incentive have only recently commenced after the October 2020 bi-partisan enactment, and it would be unlikely […]

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