AusBiotech submits on R&D Tax Incentive Discussion Paper

After inviting member comments, AusBiotech responded directly to Section 8 of the Discussion Paper with its consolidated list of issues for comment. The responses form major themes that have commonality across the facets of the discussion paper. To summarise its submission, AusBiotech recommended the following:

• Industry-specific case studies of typical scenarios would be of great assistance to small and medium biotechnology companies. Ideally the de-identification and publication of Advanced Findings, along with a rationale, would make excellent guides for industry.
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• The tracking and publication of claim data, measuring the benefit to specifc sectors (including biotechnology) as well as to Australian innovation overall, would be of great assistance.
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• Education forms a major theme, and AusBiotech’s submission recommends training on two levels: Support for the delivery of information to industry via relevant associations, such as AusBiotech; and training programs for those administering the R&D Tax Incentive who are unfamiliar with the biotechnology sector and its industry-specific issues.
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AusBiotech has been actively involved in campaigning for the R&D Tax Incentive policy, making a number of submissions throughout the years of the policy’s development – and continues to be closely involved with AusBiotech’s CEO, Dr Anna Lavelle, a Ministerial appointment to the R&D Tax Incentive Advisory Committee.

The AusBiotech submission can be viewed here.

You can get more information on the consultation and a copy of the full discussion paper here.