Australia's life sciences competitive advantage at risk from Omnibus Savings Bill, says AusBiotech

6 September 2016

Trade group AusBiotech chief executive Glenn Cross says the proposed cut to the Research & Development (R&D) Tax Incentive included in the Omnibus Savings Bill, which recently entered Parliament, risks Australia’s competitive advantage in the life sciences.

“Reducing the benefit of the R&D Tax Incentive will have a direct impact on an area of national competitive advantage, which has responded recently with growth, in large part due the effect of the R&D Tax Incentive,” said Mr Cross.

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