Swanson Reed News

A Patent Box Grant: The Bang the ‘Idea’s Boom’ Needs

December 11th, 2015

The ‘ideas boom’, the blueprint to innovation, or just simply, the Innovation Statement – whichever way you prefer to coin Turnbull’s first economic report as government, there is no denying that ‘innovation’ has become a buzzword in the Australian vocabulary this week. The innovation statement, released on Monday, unveiled a $1.1 billion plan to foster innovation with 24 new measures across 11 different Government groups. Certainly, the plan is wide-ranging; however, it falls short on delivering a globally competitive commercialisation […]

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Is R&D, the Elixir of Economic Growth, Threatened by ISA?

December 10th, 2015

The ‘elixir of economic growth’, whilst sounding like a surreptitious tincture crafted by an alchemist, is actually often believed by economists to be pertaining to research and development (R&D). Hence, as we mentioned in our previous post, it came as a surprise to many that the R&D Tax Incentive was not mentioned in the Innovation Statement released on Monday. However, what was declared was the inception of a new independent body, Innovation Science Australia (ISA), which will take effect in July […]

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Will ISA Impact the R&D Tax Incentive?

December 9th, 2015

In the interest of echoing the mining boom with a more perpetual “ideas boom”, the government released its flagship Innovation Statement on Monday this week. The Innovation Statement revolves around four chief areas: culture and capital, collaboration and skills, incentivising risk and government as an exemplar. In particular, key elements of the agenda comprise of a 20 per cent rebate for investments in start-ups and a easing of insolvency laws to spur risk-taking by company directors. However, contrary to the expectations of many […]

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How the Innovation Statement Affects the R&D Tax Incentive

December 8th, 2015

From mining booms, population booms and housing booms – Australia’s history has been littered with ‘bangs’ of productivity. Now, according to the Turnbull government, we are engaged in an ‘ideas boom’ – where all that confines us is our imagination. Certainly, the creation of ideas, or innovation as it is otherwise known, goes hand in hand with research and development (R&D). Hence, in light of the Innovation Statement released yesterday (which we have overviewed here), many have been curious about […]

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Bryce Steele
Principal, Melbourne
Tel: (03) 9018 5778
Mob: 0435 713 493
Tom Parkhouse
Principal, Sydney
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Andy Nguyen
Principal, Brisbane
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Kieu McKellar
Manager, Adelaide
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David Greatwich
Principal, Perth
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Krishna Gungaram
Manager, Hobart
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Mob: 0435 713 493