Senate Standing Committee on Economics inquiry: Treasury Laws Amendment (Research and Development Tax Incentive) Bill 2019.

Research & Innovation 6 March 2020

Senate Standing Committee on Economics inquiry: Treasury Laws Amendment (Research and Development Tax Incentive) Bill 2019.

Ģ��Ƶ welcomes the opportunity to make a submission to the inquiry into the Treasury Laws Amendment (Research and Development Tax Incentive) Bill 2019 (the Bill). Ģ��Ƶ is the peak body for Australia’s 39 comprehensive universities, which educate more than a million students and undertake research for the national benefit.

EXECUTIVE SUMMARY

Research, development and innovation are critical to the Australian economy and vital to the economic and social wellbeing of the community. Ģ��Ƶ is extremely concerned about the level and rate of decline of business investment in research and development (R&D) in Australia and commends efforts by the Government to arrest this downward trend.

To ensure that the decline is reversed, Ģ��Ƶ recommends that savings from amendments to the RDTI be used to invest in improving Australia’s research, development and innovation system through targeted, direct incentives and the introduction of a collaboration premium to the RDTI.

Download the full submission (51.23 KB)

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Ģ��Ƶ

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