THE Australian pharmaceutical
research community has welcomed
the news that the Senate has
passed legislation enabling the
Research & Development Tax Credit.
The Tax Credit will replace the
former R&D Tax Concession, with
the change estimated to reduce the
cost of conducting eligible R&D
activities in Australia by up to 10%.
Lobby group AusBiotech said the
move would make Australia a much
more competitive location for
biomedical and pharmaceutical
R&D and clinical trials.
“This is a momentous day for
innovation in Australia and the
most significant positive news that
the industry has had for a number
of years,” said the ceo of lobby
group AusBiotech, Dr Anna Lavelle.
The program will also provide
quarterly payments from 2014.The above article was sent to subscribers in Pharmacy Daily's issue from 24 Aug 11 To see the full newsletter, see the embedded issue below or CLICK HERE to download Pharmacy Daily from 24 Aug 11
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