Background – The National Innovation and Science Agenda (the Agenda) was launched on 7 December 2015. The Agenda aims to create a more innovative and entrepreneurial Australia. In launching the Agenda the Australian Government committed to undertaking a review of the Research and Development (R&D) Tax Incentive programme.
Objective – The Review is identifying opportunities to improve the effectiveness and integrity of the programme, including how the programme’s focus can be sharpened to encourage additional R&D. A brief explanatory Scope of Review (PDF 343KB) document has been developed to assist stakeholders and is available to download.
Taskforce – The Review Panel is being chaired by Mr Bill Ferris AC (Innovation Australia), Dr Alan Finkel AO (Chief Scientist) and Mr John Fraser (Secretary of the Treasury). A taskforce within the Department of Industry, Innovation and Science (the department) has been formed to support the Review. The taskforce includes representatives from the Department of the Treasury and the Australian Taxation Office, as well as officers from the department.
Review Issues Paper – While earlier stakeholder consultations (PDF 686KB) are being considered by the Review, interested parties may provide additional input to the Review Panel. An Issues Paper (PDF 611KB) has been developed by the Panel to aid this process and is available to download.
[Business website] [LTN 27, 11/2/16]