A federal election is due to occur by 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).
This is the case, since 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 for further change to happen so soon.
Both major political parties have indicated that government support for Industry, Science and Innovation will be a priority during the upcoming campaign:
It is natural for both parties to have differing approaches to support direct incentives to industry (such as discretionary grants).
It is however hoped that the future government can ensure that infrastructure necessary to support ongoing and long-term Australian investment is stable and suitable for measures such as: