Submission - Go8 Response to the Review of the R&D Tax Incentive Program

4 Mar 2016

2 March 2016

R&D Tax Incentive Review Secretariat
PO Box 9839
Canberra, ACT 2601

The Group of Eight Submission to R&D Tax Incentive Review Issues Paper

The Group of Eight (Go8) welcomes the opportunity to comment on the R&D Tax Incentive Review Issues Paper and in particular its focus on improving the effectiveness and integrity of the R&D Tax incentive.

Please note that this submission represents the views of the Go8 network; member universities may also make their own, more detailed submissions.The Go8 represents Australia’s leading research-intensive universities, accounting for over two-thirds of Australian university research activity, including about 60% of industry funded contracts.

As such, the Go8 is well positioned to advise on the strengthening of commercialisation and engagement activities, while maintaining the strength and quality of Australia’s research industry.

As outlined in the Go8’s submission to the Re:think tax discussion paper issued for the Tax White Paper, we welcome the government’s commitment through the National Innovation and Science Agenda  to  continue its focus on the R&D tax incentive scheme in the broader context of reviewing the effectiveness of existing tax incentives for innovation, industry-funded research and collaboration with public research organisations.

As acknowledged in the Issues Paper, this review is one of a suite of government processes currently underway that have implications for the national innovation system. We emphasise the need for consistency across these processes to ensure a coherence of overall approach.

R&D tax incentives offer a powerful lever to encourage greater collaboration from industry, and provide an incentive for more firms to actively seek ways to engage in innovation activities. The Go8 believes there are a number of ways these could be reshaped to encourage greater industry innovation engagement, and enhance the effectiveness of other related initiatives such as the Entrepreneurs’ Infrastructure Program (EIP) and the Industry Growth Centres (IGCs).

To view the full Go8 Response to the Review of the RD Tax Incentive Program please click here or view the PDF file attached.