As Australia celebrates 26 years of continuous economic growth, Innovation and Science Australia (ISA) releases their plan for Australia to further thrive in the global innovation race. ISA has released their report titled “Australia 2030: Prosperity through Innovation,” which provides a roadmap for governments to accelerate Australia’s innovation system by 2030. The report is a strategic plan to advise policy makers on how to accelerate innovation and optimise Australia’s innovation system. In planning towards 2030, innovation will continue to be […]
Toyota has announced that they will be releasing electric self driving vehicles that will be tailored for companies to use ride-sharing and package delivery services. This new development in car manufacturing underscores how automakers are no longer simply building cars but also providing services to go with them. Toyota has grand plans to start testing the new vehicles in the early 2020’s in various regions and plans to release the car in three sizes: a bus-sized vehicle, a shuttle and […]
Business operators and advisors are being warned that the Australian Tax Office (ATO) are reviewing tax incentive claims made for ordinary business activities. The following review is intended to target the misuse of R&D claims, and anyone deliberately exploiting the tax breaks will be pursued in court. Misuse of R&D tax incentives consist of: A company registers one or more activities for the R&D Tax Incentive. Some or all of the activities registered are broadly described and non-specific. […]
From 2015 to 2016 North America increased R&D spending by 8% rising close to $300 Billion as Europe, Japan and the Rest of the World including Australia fell by 9%, 8% and 3% respectively and China rose by 19%. Many of 2016’s Most Innovative Companies invested over $8 billion in R&D (research and development) this year as calculated by Strategy & Business. Apple and Alphabet, formerly known as Google, have maintained first and second in […]