Australian R&D Tax Incentive reform delivers positive news, says AusBiotech

9 May 2018

Australia’s Federal Budget has revealed a comprehensive plan for ‘better targeting the research and development tax incentive’ (R&DTI), including:

clinical trials exempted from a A$4 million ($3 million) cap for the refundable component;
no lifetime cap for the refunds;
a coupling of the incentive to each company’s tax rate; and
for larger companies, a graduating reward premium for higher intensity and an increased cap.

Trade group AusBiotech said it is relieved by federal government’s careful approach to imposing a much-feared annual cap, with the exemption of clinical trials from the A$4 million cap on the annual refundable amount a welcome development.

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