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R&D Tax Incentive Review November 2016 (V1)

A recent review of the current R&D Tax Incentive has recommended a maximum cash rebate of $2M of companies with a turnover of less than $20M. AusBiotech would like to gather some qualitative data to assist us in representing the views of the sector.

This survey is aimed at SMEs eligible for the refundable component of the R&D Tax Incentive. Please indicate how this proposed change will impact your company in the nine questions below. If you have any additional documentation to demonstrate how the proposed cap on the R&D Tax Incentive will impact your company, please send to Lorraine Chiroiu, Deputy Chief Executive Officer, AusBiotech, at lchiroiu@ausbiotech.org.
1.Details (optional)
2.Will a $2M cap reduce your company’s ability to employ new staff or maintain the current level of employment? If so, estimate the extent to which staff numbers or plans to employ will be reduced.
3.Will the proposed changes impact the time your company needs to meet your next value inflection milestone? (i.e. first-in-man studies, time to market). If so, estimate the delay and/or provide an example of a milestone that will be impacted.
4.Will proposed changes delay your company’s revenue from export? If so, estimate the time delay your company may experience for manufacturing and/or exporting.
5.Will the proposed changes reduce your company’s ability to absorb interns or STEM graduates?
6.How many private dollars are raised for every public dollar received via the R&D tax rebate?
7.Does the incentive make it easier for your company to attract foreign or domestic direct investment? Please provide an example.
8.If there is no impact on capital availability, will the price be materially higher?
9.If a cap is imposed, would exempting clinical trials from the proposed cap benefit your company?
10.Would the $2M cap impact your ability to compete globally? If yes, how?