$1.8 billion reduction in R&D tax incentives is a major setback for Australian businesses

By Ann Wen · 14 August 2020 · Finance

$1.8 billion reduction in R&D tax incentives is a major setback for Australian businesses

Full details: $1.8 billion reduction in R&D tax incentives is a major setback for Australian businesses

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Summary

Proposed changes to R&D tax incentives (RDTIs) could reduce future R&D expenditure, undermining innovation and the development of new industries in the long-term. In 2017, Australia’s R&D expenditure sat at 1.787 per cent of GDP, far below the then OECD average of 2.342 per cent of GDP. Changes in RDTIs will potentially drive this rate […]