R&D Tax incentive: How Australia is making clinical trials cost competitive:
The R&D Tax Incentive is the Australian Government’s principal measure to encourage industry investment in research and development. It is a broad-based, market driven program that aims to boost company competitiveness, improve productivity and deliver economy-wide benefits to Australia.
The R&D Tax Incentive replaces the R&D Tax Concession from 1 July 2011 and is jointly administered by AusIndustry (on behalf of Innovation Australia) and the Australian Taxation Office (ATO).
Datapharm Australia is a registered Research Service Provider (RSP) with AusIndustry. Research Service Providers (RSPs) are entities registered by AusIndustry (on behalf of Innovation Australia) as being capable of providing scientific or technical expertise and resources to perform research and development (R&D) on behalf of other companies. RSPs must satisfy criteria specified under the R&D Tax Incentive legislation relating to their staffing, facilities, capability and capacity to provide R&D services, and pricing structure.
Registration is given in respect of specified fields of research that the entity has shown it is capable of undertaking. The fields of research are taken from the research categories in the Australian and New Zealand Standard Research Classification (ANZSRC) 2008.
Planning to run a clinical trial in Australia?
43.5% “cash back” benefit now available for eligible foreign companies undertaking R&D in Australia. Are you eligible for up to 43.5% refund on your next Clinical Trial?
Discussion about the incentive with an R&D Tax Specialist: