A century ago, Sweden was among the poorest nations in Europe. It’s a small country, home to just 0.13 per cent of the global population. Yet today, it is a world leader in innovation. In fact, the Innovation Union Scoreboard 2010, an index published by the European Commission, ranks Sweden as the leading country for innovation among EU member states. Fittingly, Australia’s latest Prime Minister has recently pinned the country’s economic renaissance on an ‘Ideas Boom’, where innovation and technology drive […]
This year, April 30 transpired on a Saturday which has subsequently extended the R&D tax incentive registration deadline to today (2 May 2016). Moreover, as it is a public holiday in Queensland today, Queensland-based entities may lodge registrations until tomorrow (3 May 2016). As per previous years, the R&D tax incentive registration deadline is 10 months after a company’s financial year end. Thus, for companies with a June 30 financial year-end, they will typically need to register their R&D activities […]
In its current form, the R&D Tax Incentive is an easily accessed and significant program that can provide generous benefits to eligible companies. In fact, the refundable (‘cash out’) component of Australia’s R&D incentive is the most generous when compared to other OECD countries around the world. Indeed, the R&D Tax Incentive is the Federal Government’s largest financial program to encourage companies to innovate. It has a minimum spend of $20,000 and is administered jointly by AusIndustry (on behalf of Innovation […]
In launching the innovation and science agenda in December, the Australian Government announced that they would be undertaking a review of the R&D Tax Incentive programme. At present, the review is currently ongoing by a panel led by Bill Ferris and it is expected to report to Government in April 2016. However, the announcement of a review has resulted in companies underlining their apprehensions about changes to the initiative. Most recently, CSL has joined industry appeals to the federal government to […]