A government review of the research and development (R&D) tax incentive program is set to be carried out by the Centre for International Economics. The Centre for International Economics (CIE) has been engaged to provide independent advice to the Review of the R&D Tax Incentive programme.
The review is aimed at enabling mid-sized businesses to provide feedback on the value of innovation incentives to remain competitive in a global economy. The Review is interested in canvassing a broad variety of stakeholder opinions and views of the importance of research and development in fostering growth and innovation within their sector.
As the R&D Tax Incentive has now been in operation for more than three years, stakeholders are well-placed to provide informed perspectives on the R&D Tax Incentive in relation to its policy design, administration and effectiveness.
The R&D rebate is one of the most significant instruments impacting the Australia’s innovation and startup ecosystems. The coalition continues to push for reductions in the R&D Tax Incentive which would have a significant damaging impact on innovative Australian businesses.
Submissions for the review will be taken and urge mid-sized businesses to highlight the importance of research and development in fostering growth and innovation within their sector.