{"id":1148,"date":"2018-01-30T07:09:37","date_gmt":"2018-01-30T07:09:37","guid":{"rendered":"http:\/\/ausgrant.com.au\/?p=1148"},"modified":"2018-01-30T07:09:37","modified_gmt":"2018-01-30T07:09:37","slug":"new-isa-report-clarifies-rd-tax-incentive-recommendations","status":"publish","type":"post","link":"https:\/\/ausgrant.com\/au\/new-isa-report-clarifies-rd-tax-incentive-recommendations\/","title":{"rendered":"New ISA Report Clarifies R&#038;D Tax Incentive Recommendations"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Today, Innovation and Science Australia released their \u201cAustralia 2030: Prosperity Through Innovation\u201d report. The report has clarified some recommendations made during the 2016 review of the R&amp;D Tax Incentive program which have not yet been responded to. The reviewers were asked to find opportunities to improve the R&amp;D Tax Incentive programme, where they found that it fell short of meeting its goal of additionality and spillovers.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The ISA report clarifies proposed cost control recommendations made during the R&amp;D Tax Incentive review. It stated that the cap on refundable offsets is proposed to operate, whereby a cap of $4M per year would apply and a maximum cumulative refund of $40M per company should apply.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The suggested \u201cintensity threshold\u201d for large companies would apply so that all R&amp;D expenditure is claimable once a trigger set at 1 percent of a company\u2019s total R&amp;D expenditure is reached. This means a company\u2019s R&amp;D expenditure would need to equal at least 1 percent of their total business expenditure in order to be eligible to claim.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The report has recommended increasing business R&amp;D by better targeting the R&amp;D Tax Incentive towards SMEs, as they rely so heavily on the incentive (54 percent of SME\u2019s R&amp;D decisions are influenced by the R&amp;D Tax Incentive vs. 34 percent for larger companies). It also proposed concentrating on direct initiatives such as increasing funding for the Export Market Development Grant and reducing support for indirect measures like the R&amp;D Tax Incentive. Compared with many other countries, Australia has a particularly high percentage of government funding going towards indirect rather than direct R&amp;D incentives. In Israel, Germany and Sweden, government funding is entirely dedicated to direct funding. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Furthermore, the report suggested increasing the collaboration between industry and the research sector by introducing a collaboration premium of up to 20 percent in the R&amp;D Tax Incentive, as discussed in the review. Collaboration is a recurring theme in the R&amp;D conversation. While we have a strong research sector globally, successfully commercialising this research requires further work.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The full report is available <\/span><a href=\"https:\/\/industry.gov.au\/Innovation-and-Science-Australia\/Documents\/Australia-2030-Prosperity-through-Innovation-Full-Report.pdf\"><span style=\"font-weight: 400;\">here<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Today, Innovation and Science Australia released their \u201cAustralia 2030: Prosperity Through Innovation\u201d report. The report has clarified some recommendations made <a href=\"https:\/\/ausgrant.com\/au\/new-isa-report-clarifies-rd-tax-incentive-recommendations\/\" style=\"float:right; padding-bottom:10px;\"><br \/><\/a><\/p>\n","protected":false},"author":4,"featured_media":1153,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[7,8],"class_list":["post-1148","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","tag-isa","tag-rdti"],"aioseo_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>New ISA Report Clarifies R&amp;D Tax Incentive Recommendations - AusGrant - Leading R&amp;D Grant Writers<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ausgrant.com.au\/new-isa-report-clarifies-rd-tax-incentive-recommendations\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New ISA Report Clarifies R&amp;D Tax Incentive Recommendations - AusGrant - Leading R&amp;D Grant Writers\" \/>\n<meta property=\"og:description\" content=\"Today, Innovation and Science Australia released their \u201cAustralia 2030: Prosperity Through Innovation\u201d report. 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