Joint letter to the Review of the Research & Development Tax Incentive

Joint letter to the Review of the Research & Development Tax Incentive

7th March, 2016

AAMRI is a co-signatory to a joint letter to the Review of the Research & Development Tax Incentive. Other co-signatories are: AusBiotech, Research Australia, Medicines Australia, BioMelbourne Network and BioSA.

In the letter we posit that the R&D Tax Incentive is the most significant Government program for promoting innovation in the private sector, and that it plays a pivotal role in motivating and attracting research, development and clinical trials to be conducted in Australia. It is the most critical centrepiece program in the translation of Australia’s world-class research into treatments, cures, diagnostics devices and vaccines.

We assert that the R&D Tax Incentive has been the shining beacon of encouragement and support to the industry and we join as a group to confirm its success and urge the Government not to diminish the programme and to provide consistency and certainty to the life sciences sector to allow its development. The entities eligible for the R&D tax Incentive have reported to the signatories below that progress, clinical trial activity, employment, partnering and investor interest have all improved in a material way due to the research support provided by the incentive.

The full joint letter is attached below.