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Academics call for R&D Tax Incentives to be Diverted to Direct Funding Initiatives, Swanson Reed Disagrees

August 31st, 2022

In an article published in the AFR on 30 April, Deputy vice-chancellor of research at the University of Sydney Emma Johnston called on the government to fund research and innovation directly (e.g. via a grant), rather than through tax incentives. It was noted as being part of a push for greater mobility between the corporate and business sectors, which leading academics say will boost investment in research and innovation. Professor Johnston was quoted in AFR stating that the R&D tax […]

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InnovationAus Analysis of Public Funding for R&D in USA Compared with Australia

August 29th, 2022

A recent article by Dr John Howard on InnovationAus has highlighted a comparison between Public Funding for R&D in USA (following passage of a new act) against Australia. The article highlights that: The Chips for America Fund (US$52.7 billion) and recently enacted CHIPS and Science Act will authorise a five-year US$169.9 billion (A$245 billion) Research and Innovation Initiative – a US$82.5 billion increase over the current baseline. This is the biggest five-year investment in public R&D in United States history. […]

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Telix Pharmaceuticals becomes Australian Biotech Success Story after being one of largest Refundable R&D Tax Offset Recipients

August 15th, 2022

Melbourne-based Telix Pharmaceuticals has been one of the largest recipients of the R&D Tax incentive, and has now achieved a rare feat in Biotechnology;  commercialising a product, and continuing to grow. The company reportedly received a more than $12M R&D tax offset refund for activity undertaken during the year ended 31 December 2020, and more than $11M in the preceding period, for their work on cancer diagnostic and treatment. Telix Pharmaceuticals’ technology uses radio pharmaceuticals to travel through the blood […]

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Productivity Commission Review of Industry Assistance and Upcoming Federal Budget

August 8th, 2022

The Productivity Commission is the Australian Government’s independent research and advisory body on a range of economic, social and environmental issues affecting the welfare of Australians. It states its role is to help governments make better policies, in the long term interest of the Australian community. In early August 2022, The Productivity Commission published its annual review of trade and assistance which it notes is to keep a record of assistance. Some notable extracts from The Productivity Commission annual review relevant […]

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