Tesla’s revenue continues to increase and subsequently so does their research and development. In 2017 Tesla’s R&D spending reached $1.378 billion which is actually not that large in comparison to other auto companies. General Motors spent $7.3 billion, Volkswagen spent €13.135 billion and Mercedes and BMW spent over €6 million. While Tesla’s R&D spending may seem a lot smaller than that of other auto companies, their R&D devotion is quite impressive when comparing it to their percentage of revenue. Tesla […]
Sixty million people are fed by Australian farming exports. With an ever-increasing global population, innovation in agriculture is essential to a sustainable future. However, the changes to the R&D tax incentive announced in the 2018 Federal Budget may be disadvantageous for industries like agribusiness. Up to 12,000 Australian companies could be affected by the R&D intensity change, which proposes that companies spend at least one percent of total business expenditure on R&D to qualify for the non-refundable tax offset. The […]
Despite a tip being released that the Australian National Space Agency could receive up $50 million in federal funding, the final announcement of $41 million remained to be a pleasing outcome for all in the industry. The space industry and space-reliant businesses are excited for future expansion plans and partnerships with international space agencies. The official announcement of the agency’s funding in the 2018 budget was extremely exciting for CEO of the space start-up ‘Fleet Space Technologies’, as this was […]
In response to the recommendations in the ‘2016 Review of the R&D Tax incentive’ the government has announced proposed R&D Tax Incentive changes within the 2018-19 Federal Budget released yesterday, 8 May 2018. The changes take on board some recommendations from ISA’s previous review of the programme, along with some of the government’s own savings and integrity measures. The R&D Tax Offset rate will change, commencing for years on or after 1 July 2018. For companies claiming the refundable offset with […]