Deep tech sector warns R&D tax incentive changes will damage the industry
Australia’s biotech, medtech and deep tech sectors are urging Treasurer Jim Chalmers to consult on the two proposed R&D tax incentive reforms announced in the budget.
A coalition of Australia’s deep tech, science and medtech sectors is urging the federal government to revisit its Research and Development Tax Incentive (RDTI) reform, arguing it risks damaging the commercialisation the reforms are designed to support.
In a joint letter to Treasurer Jim Chalmers, 17 industry organisations called for consultation on two proposed changes announced in the federal budget: limiting the refundable R&D tax offset to companies less than 10 years old, and removing the eligibility of supporting R&D activities.
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