Category: Submissions

R&D Tax Incentive Review

As part of the National Innovation & Science Agenda, the Government has commissioned Innovation and Science Australia to undertake a review of the R&D Tax Incentive.

While Research Australia proposed some possible minor amendments to the R&D Tax Incentive, we argued that on the whole the R&D Tax Incentive is already performing well against the Review’s criteria of effectiveness, integrity and encouraging additional R&D. Any changes to the R&D Tax Incentive at this point in time should be limited to improving the way it is administered.

R&D Tax Incentive Review

Tax Incentives for early stage investors

As part of the National Innovation and Science Agenda (NISA) Treasury has undertaken a consultation on an initiative to provide tax incentives for early stage investors in innovative companies. Research Australia’s submission supports the proposal and suggests some amendments to improve its operation and reduce red tape. These include making registration for the R&D Tax incentive a qualifying condition for treating a company as an ‘innovation company’ in respect of which the tax incentive can apply, and allowing the tax incentive to be available to ‘retail’ investors. The tax incentive has the potential to increase the capital available to early stage innovative companies, including those seeking to commercialise new medicines, devices and therapies.

Tax Incentives for early stage investors

Proposed reduction in Minimum Distributions for Ancillary Funds opposed

Private and Public Ancillary Funds allow individuals and organisations to create trusts that can receive tax deductible donations and then distribute these amounts to charities in later years. The Treasury proposed allowing Ancillary Funds to reduce the amount they must distribute to charities each year, and to link this amount to their investment returns. Health and Medical Research is a recipient of funds from Ancillary Funds.

Research Australia has opposed the changes because linking the funds to economic conditions and investment market performance could reduce the amount of funds made available and lead to greater year-to year-variation in distributions

Reduction in Minimum Distributions for Ancillary Funds

Pre Budget Submission 2016

Research Australia submission to the Treasurer in respect of preparations for the 2016 Budget acknowledges the importance of the Government’s focus on science and innovation to Australia’s future and makes a number of recommendations with the aim of improving supporting economic growth and developing a more innovative, safer, and efficient health system that delivers better quality care.

Pre Budget Submission 2016

Inquiry into Tax Deductibility

The House of Representatives Economics Committee invited Research Australia to make a submission to its inquiry into Tax Deductibility. The Inquiry’s terms of reference from the Treasurer are to investigate broadening the tax base and lowering the tax rate by identifying existing tax deductions that can be removed. Research Australia’s submission addressed the question of fairness when considering the removal of tax deductions that are of particular importance to some groups of taxpayers, and the use of deductions to provide incentives for particular expenditures. Research Australia’s submission focused on the tax deduction for self education expenses (important to the many researchers who are responsible for their own ongoing education) and the tax deductibility of donations to charities, including many not for profit health and medical research organisations.

Inquiry into Tax Deductibility

Health Data Sets – linkage and access

The Senate Select Committee into Health invited Research Australia to make a submission in relation to the linkage of and access to Commonwealth Health datasets for research purposes. The submission emphasised the importance of this data to research, and the potential it provides for better health outcomes and a safer, more effective and efficient health system. The submission made several recommendations to support the greater use of data, including the digital collection and storage of more data, recognising the use of health records for research purposes in governing legislation and building capacity in data management and data analysis.

Health Data Linkage and Access

Safety & Quality in Healthcare standards

The Australian Commission on Safety & Quality in Healthcare issued new draft Safety & Quality in Healthcare Standards for consultation. Research Australia has made a submission emphasising the improvement in safety and quality that can be made through greater engagement by researchers with the healthcare sector, and proposing a number of ways in which the draft Standards could be modified to enhance and support this engagement.

Safety & Quality in Healthcare standards

Review of research policy and funding for Higher Education

Research Australia’s submission to the review of research policy and funding arrangements emphasises that the primary role of universities is the creation of new knowledge and that the application of new knowledge (of which commercialisation is one of the paths) is important but necessarily a secondary role. Programmes such as the Research Block Grants and the competitive grants programmes must maintain a primary focus on research. There is scope to simplify and improve these programmes and to better support innovation in research training.

Review of research policy and funding for Higher Education

Victorian Medical Technology and Pharmaceuticals Strategy

Research Australia has responded to the Victorian Governments’ discussion paper on the Victorian medical technologies and pharmaceuticals sectors, proposing the Victoria capitalise on its existing expertise in health and medical research and significant infrastructure to take advantage of future growth in this sector. There is significant scope of the Victorian Government to complement and take advantage of the Australian Government’s focus on the sector as a priority area for investment.

Victorian Medical Technology and Pharmaceuticals Strategy

Research Training System Review

Research Australia’s submission to the Review of Research Training has emphasised the need to provide better preparation for doctoral students and greater flexibility in the the subject matter included in their study to reflect their own skills and experience and their career aspirations. It also emphasises the need to provide alternatives to a PhD for individuals who need a strong understanding of research skills and method because they will work with research and researchers in the communication, administration or commercialisation of research. The submission proposes the Masters degree by research as a means of providing better and more tailored preparation for a career in conducting or supporting research.

Research Training System Review