The Incentive to Innovate
Government support for research and development is a critical component in the Australian innovation system. The incentives that they provide have a powerful impact on businesses in Australia, both small and large.
Improvements to the administrative complexity of the scheme are welcome. Any changes to the fundamental nature of the R&D tax incentive must be carefully considered.
The review should clearly identify, and provide supporting evidence as to how the current system is not meeting its objectives. Any changes should demonstrate how they will result in improvements to the agreed objectives being achieved.