Australian biotechs say they will be worse off under RDTI changes
More than three quarters of Australia’s biotech, medtech and health tech companies recently surveyed said they will be significantly or moderately negatively impacted by the proposed Budget changes to the R&D Tax Incentive (RDTI), with many actively considering relocating overseas, or moving lifesaving clinical trials, due to the controversial reforms.
The proposal to limit the RDTI’s long standing refundable tax offset for companies less than 10 years old is not fit-for-purpose and does not cater to the realities of the sector.
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