Major R&D tax reforms in the pipeline

In David Gelb’s discussion about the proposed reforms to Australia’s R&D tax concessions, he raises an important point about the short-term advantages of increasing assistance to organisations involved in research, development and, more generally, innovation.

“Short-term incentives should also encourage companies to invest the money saved in employment, training, infrastructure and collaboration, benefiting the company and the economy in the long run.” David Gelb, The Age 30-3-09

It is vital that Australian businesses continue to invest in innovation, and any support that the government can provide to ensure that this nation continues to spend on continual improvement and innovation will have short and long term benefits. This type of support will be analogous to the domestic “stimulus” payments received by households in the past few months.

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