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Australian Business Investment In R&D Has Fallen
November 24th, 2017According to the OECD Science, Technology and Industry Scoreboard 2017 and Australian Bureau of Statistics, Australian spending on research and development was down from 2.11 percent of GDP in 2013-14 to 1.88 percent in 2015-16, with the OECD average being 2.38 percent. Chief Executive of Universities Australia Belinda Robinson said that this represented a stark warning against government research cuts, which would put future jobs at risk. Research and development involve producing new and improved products, technologies, and processes or ‘knowledge-based […]
Australia Positioned To Become A Leader in Lightweight Cars
November 23rd, 2017Australia’s automotive industry is going through major structural change with the imminent closure of car manufacturers. To take its place, Australia aims to move from the production of vehicles to the exporting of engineering services and innovative product solutions. Thanks to a new project, it may very well become a leader in lightweight car technology. Funded with over $3 million from the Australian Research Council, the ARC Training Centre in Lightweight Automotive Structures (ATLAS) has just opened at RMIT. RMIT, […]
ResMed’s R&D Investment Has Increased Profits By 13%
November 7th, 2017ResMed provide a range of medical devices that help to diagnose, treat and manage sleep apnea, chronic obstructive pulmonary disease and other chronic diseases. For the first quarter of the financial year, ResMed’s profits grew by 13 percent to $US523.7 million. Chief executive Mick Farrell said that continuous product innovation was helping the company to increase its market share. He stated that ResMed continues to “Pioneer products, services and solutions that improve patient outcomes, create efficiencies for our homecare providers, […]
Australian R&D Spend is Decreasing for the First Time in Decades
September 26th, 2017The Australian Bureau of Statistics has found that company expenditure on research and development has declined by 12 percent between 2013-14 and 2015-16. This is close to dipping below 1 percent of GDP, or $16.6 billion. Although manufacturing remained the largest spender of R&D, R&D spending in the mining and manufacturing industries was down. Mining decreased by 34 percent ($954 million) while manufacturing was down 19 percent ($936 million). The R&D tax incentive is expected to cost the government around $3.5 […]
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News & Research
News & ResearchCochlear Comments on Australian R&D Tax and Innovation Policy
A recent article in The Australian has outlined comments from Dig Howitt, CEO of Cochlear, who believes Australia is at a crossroads when it comes to commercialising new innovative products. Howitt noted the country’s current tax regime hinders research and development […]
ATO Release First R&D Tax Incentive Transparency Reporting Data
As now required by law, The Australian Taxation Office (ATO) has released its first annual Research and Development (R&D) tax transparency report on entities claiming the R&D tax offset. The information the ATO published includes: name of the R&D entity […]
