As one of the key drivers of innovation, the R&D Tax Incentive (R&DTI) is a policy of key importance to our membership. We are committed to working with the federal government to optimise its application to our high-growth sector.
The dual-agency administration model of the R&DTI.
About the submission:
In the past Australia has not competed well with other locations with better tech ecosystems and more favourable tax arrangements in converting start ups into larger businesses. However, In the last five years we have quadrupled the number of Australian technology companies worth more than $100 million and a dozen companies have achieved Unicorn status ($1 billion and above). The number of companies being created in each of the last three decades is also increasing rapidly.
It is our intention to ensure that these high-value, fast-growing companies are incentivised to keep their R&D activity here in Australia.
Ensuring that the R&DTI is accessible to these types of firms, at all stages of their growth, requires that both the policy and its administration continues to do what it set out to: help companies innovate and grow.