Biotech sector crafts response to R&D Tax Incentive Review

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AusBiotech members are invited to gather at briefings in Sydney, Brisbane and Melbourne to contribute to the crafting of the industry’s response to the ‘Ferris, Finkel, Fraser’ Review of the Research & Development (R&D) Tax Incentive.

The Report’s recent launch has already drawn a strong response from industry with a package of recommendations that include placing a $2 million cap on the refundable component of the programme that would disadvantage a significant portion of SMEs in the sector.

The Report’s launch marked the commencement of a consultation period, which is now open until 28 October with feedback invited on the six recommendations.

AusBiotech members are urged to share their views on the report and to assist is the development of the industry’s response. Members (only) are invited to the following events, supported by Deloitte:

  • Brisbane, Tuesday 18 October, 8.30 to 10.00am
  • Sydney, Wednesday 19 October, 8.30 to 10.00am
  • Melbourne: Thursday 20 October, 11.30am to 1.00pm

The Report and details of the Federal Government’s consultation process can be found online.

AusBiotech welcomes the Federal Government’s willingness to seek submissions and consult widely before finalising a response by the end of March 2017. The Department of Industry Innovation and Science has announced a number of consultation sessions around the country over the coming weeks.

The Department has also opened a survey.

AusBiotech also invites members to comment directly by contacting AusBiotech’s Deputy CEO, Lorraine Chiroiu ( 0429 801 118).