Discussion Paper and Summary of Submissions

Overview

An objective of the Australian Government is to transition the R&D Tax Incentive into a significant vehicle for driving the nation’s innovation system through increased research and development.

AusIndustry’s aim is to engage with a wide range of audiences to encourage an innovation culture and enable the development of strong guidance material for the R&D Tax Incentive. We are seeking participation from companies across a range of industries and others in the innovation community, such as industry associations, universities, research organisations and government.

Submissions

AusIndustry released the R&D Tax Incentive Discussion Paper on 11 November 2011 with submissions closing on 31 January 2012.

AusIndustry would like to thank the variety of organisations that took the time to make a submission or contact AusIndustry with their informal feedback. There was strong representation across a number of key interest groups, including the research sector as well as businesses and their representatives (see Figure 1). In addition, the discussion paper sparked interest from the Canadian Revenue Agency that provided valuable insight into their administration of a similar R&D incentive program.

AusIndustry has reviewed the submissions and prepared a summary that collates common issues, trends and recommendations identified in the submissions. Many ideas for educational opportunities were provided and the submissions identified areas needing further guidance.

From this summary, AusIndustry will:

• develop further guidance on a number of key interpretative issues
• consider broadening the range of communication channels and mediums currently used for educating companies, and
• work more closely with industry associations, universities, and business and accounting networks to promote the benefits of the program.

For more information on the submissions, a summary which also includes AusIndustry’s views on issues raised can be downloaded. Because many of the submissions provided were commercial-in-confidence individual submissions will not be published.

Figure 1 - Submissions by Organisation Type

Comments or questions regarding the Discussion Paper can be emailed to RDTaxIncentive@innovation.gov.au.

Reference Papers

AusIndustry has conducted extensive research and consultation in the preparation of the Discussion Paper. You can find an overview of the following reference papers at:

• A Profile of Research and Development and Innovation in the Tasmanian Economy: Report for the Department of Innovation, Industry, Science and Research (UTAS 2011)
• Guidance Framework for the R&D Tax Incentive: Options and Analysis (AECOM 2011)
• Managing and Reporting R&D: R&D Governance and Knowledge Management (3Ws Online Pty Ltd 2011.

Note: These reference papers are not being made public at this time as they contain information that is commercial-in-confidence.