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Industry Specific Issues

Australia’s Attractiveness for Clinical Trials

March 6th, 2019

To bring a new drug to market, an average of 12 years and $1.7 billion (US) in R&D spending is required. Yet only 1 in 5,000 drugs that begin preclinical testing make it to the market. This has led to a disproportionate number of drugs being developed for rare diseases (affecting less than 200,000 in the US at any given time) due to a 25.3% success rate versus 3.4% for oncology. Many argue this is unsustainable and there is pressure […]

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New AusIndustry Guidance Released on Software Development

February 21st, 2019

AusIndustry have released two additional guidance documents particularly relevant to claimants conducting software development R&D activities: Software activities and the R&D Tax Incentive; Guide to Common Errors; This guidance has been released following earlier material from AusIndustry indicating concerns over inappropriate claims for Software Activities, and reports in the media of large software development R&D claims being found to be ineligible during review. The general principles within this new guidance remains consistent, in that claimants must demonstrate how their software is […]

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Senate Economics Committee Review Into Proposed R&D Tax Incentive Changes

January 31st, 2019

The Senate Economics Legislation Committee conducted a public hearing in Melbourne on 30 January which heard submissions from various stakeholders including: Cochlear Ltd; Brickworks Ltd; CSL; Dulux Group; The AFR has reported that representatives from these groups have consistently argued that continual change to R&D Tax Incentive introduces uncertainty and reduces Australia’s relative attractiveness as an investment location. In fact, R&D spending in Australia has fallen by over $2 billion since 2013-14. The proposed intensity threshold for companies with annual turnover […]

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StartupAUS Calls for Clearer Support for Software R&D Activities

December 6th, 2018

StartupAUS, Australia’s national startup advocacy group has released a report titled Crossroads – Fifth Anniversary edition. Data from the company has found that almost 90 percent of startups rate the R&D tax incentive as “very important” or “critical” to their business’s success. Within the report, they have called for greater assurance for software companies accessing the R&D Tax Incentive, and put forward proposals including: A moratorium on audits for software claims; A legislative amendment to the R&D Tax Incentive, or […]

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