R&D Tax Credit passed

August 24, 2011

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.

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Pharmacy Daily | R&D Tax Credit passed

R&D Tax Credit passed

Other recent headlines

Mayne pushes Sun Pharma

Unscripted alcohol debate

LTR secures millions in capital raise

SEARCH PHARMACY DAILY

Featured video

Recent issues

INDUSTRY JOB VACANCIES